pricejc
New Member

Retirement tax questions

I have a few questions:

* Will there be a way to report how much has been paid back from 2021 with the new form? 

Example (made up numbers easily divided by 3):  I took $18,000 under Covid CARES.  This means in 2020, my 8915-E form said $18,000 distribution with $6,000 taxable, and I paid back $0.  I paid back $5,000 for 2021. 

* Will it report as $6,000 taxable and $5,000 paid back - so $1,000 is then taxable?  Or do we do the math and denote the paid back and just report $1,000 taxable?

* Since I will still owe $13,000 in 2022, when reporting this for 2022, how does it work if what you paid back is more than what is taxable (I have all intention of paying back in full)?