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Retirement tax questions
The best way to report this is as follows.
- Log into Turbo Tax assuming you use Turbo Tax online
- When you reach the landing page, scroll to the bottom where your tax returns and documents are.
- Select 2020, and click on the option to amend and change return.
- Answer the questions about why you are amending
- Once you begin working in your return, your refund monitor will reset to 0.
- Go to federal>income and expense>show more
- IRA, 401(k), Pension Plan Withdrawals (1099-R)>review
- In Review your 1099-R info, select the 1099-R this distribution was taken from
- Scroll through the screens until you reach a screen that says, Tell us if you moved the money through a rollover or conversion
- Here you will indicate I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days. Don't worry about the 60 day limit because you have three years to repay this loan.
- Next screen asks, Did you rollover the gross amount of $10,000.00 (Box 1) to another retirement account? Here you will check Yes, I rolled over $10,000.00 to an IRA or other retirement account (or returned it to the same account) using my own money.
- Since the amendments are mailed in, it could take 6-8 weeks to receive the refund.
[ Edited 01/10/22|07:43 PM PST]
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‎January 10, 2022
7:25 PM