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Retirement tax questions
To amend 2020, I have followed your steps but a couple questions.
1. Turbotax asks me " did you have any of these type of income in 2020?" . that's where I am supposed to add my 1099-R ( with code P and J). is that correct?
2. also, I am under 59 1/2 and added my explanation by continue after the question " did you use your IRA to ay for any of these expenses " ( I did not put any amount there ). Turbotax is showing me that I owe tax based the information I entered. The amount is 10 % early withdrawal penalty and plus. I removed excess contributions on time. so why Turbotax is showing that I owe that money? is there anything else I need to add more in my 2020 amendment return?
Thank you again
March 23, 2022
5:19 AM