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Retirement tax questions
"TurboTax had me report the entire amount of my CARES distribution in 2020 as 1099-R income."
There's nothing to report on your 2021 tax return.
"I also made a repayment in 2021 and plan to again in 2022"
repayment is allowed only for a disaster distribution or a covid distribution.
You must report a disaster distribution or covid distribution on 2020 Form 8915-E.
You have to amend your 2020 tax return to include Form 8915-E, and also show the amount of repayment.
If you make another repayment in 2022, you'd have to file another amended 2020 tax return.
Note: your 2020 distribution is a covid distribution only if you met the criteria of being affected by COVID-19.
‎April 2, 2022
7:00 PM