Please be aware, you cannot just report a 2021 Form 1099-R on your 2020 tax return (you stated withdrew it in Jan 2021). The IRS is matching forms and if you don't report the 2021 Form1099-R on your 2021 tax return then the IRS will have questions.
Also, "a coronavirus-related distribution is a distribution that is made from an eligible retirement plan to a qualified individual from January 1, 2020, to December 30, 2020, up to an aggregate limit of $100,000 from all plans and IRAs." (IRS)
Please be aware, that you can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free. Only the earnings will be taxable and subject to the 10% early withdrawal penalty if you are under 59 1/2.
- Click on "Search" on the top and type “1099-R”
- Click on “Jump to 1099-R” and enter all your 1099-Rs
- Click "Continue" on the "Review your 1099-R info" screen
- Answer all the questions and make sure you enter the net contributions prior to 2021 on the "Enter Prior Year Roth IRA Contributions" screen
- Answer the remaining question.
@Lavien
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