@fanfare wrote:
"I quoted above that any amount more then line 9 will carry to 2021."
you are saying Any amount more than line 9 will carry forward as amount paid back in 2021.
I assumed you still paid back in 2020 the amount on line 10.
Through all this since February, I guess I was misreading the 8915-E instructions.
You are reading it differently, I'll have to think about that way of looking at it.
I've been wondering how to report on 2021 since my line 18 is greater than line 17,
This changes my whole analysis.
Re-reading it, I believe it means that you can pay back any amount up to the total before the due date or the extended due date and report it on the 2020 tax return. If returned after that it would be a 2021 repayment.
Lines 10 & 18 both say: Enter the total amount of any repayments you made before filing your 2020 tax return. But don’t include any repayments made later than the due date (including extensions) for that return.
Which says that you DO enter repayments on those lines if there were made before the due date or extended due date.
I think you read it correctly.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
