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Retirement tax questions
I'm having trouble with how TT is calculating the total taxable amount for my early withdrawal from my IRA. It's dividing $40K over 3 years ($13,333) in line 17 instead of $20K over 3 years ($6,666). Can someone help me understand why it's calculating the $13,333 instead of $6,666? I withdrew $40K and repaid $20K in December 2020, so the taxable amount should be $20K. Thank you
‎April 17, 2021
7:39 PM