Retirement tax questions

A coronavirus-related distribution should be reported on your individual federal income tax return for 2020. You must include the taxable portion of the distribution in income ratably over the 3-year period – 2020, 2021, and 2022 – unless you elect to include the entire amount in income in 2020.

To post the 2022 distribution.

On sidebar 

1. Select Federal 
2. Wages & Income 
3. Select Wages and Salaries, or Revisit 
4. Scroll to Retirement Plans and Social Security
5. Select the type of income.
   1. IRA, 401(k), Pension Plan Withdrawals (1099-R)
   2. Social Security (SSA-1099, RRB-1099)
   3. Canadian Registered Pension Income
6. At this point you can edit an existing document of [Add another 1099-R]
7. If a new 1099-R continue to Let's import your tax info
8. [Change how I enter my form]
9. [Type it Myself]

• Post the information for 1/3 of the 2020 distribution.
  • Include the distribution in both boxes 1 and 2a.
  • The distribution code in Box 7 is 2.
  • If this was an IRA, SEP or Simple, check the box.
  • Continue the interview to Do any of these situations apply to you?
  • Select I need to file a substitute 1099-R
  • How did you calculate your substitute amounts?
    • Enter 1/3 of 2020 Covid distribution.
  • Explain how you tried to get a 1099-R
    • Indicate Original 1099-R issued in 2020
  • Continue the interview.

To see the results of what you posted you can go to:

1. On the menu bar on the left that shows.
   1. My Info
   2. Federal
   3. State
   4. Review
   5. File
2. Select Tax Tools
3. On the drop-down select Tools
4. On the popup menu
5. Select View Tax Summary
6. On the left sidebar
7. Select Preview my 1040.
8. To return to the entry screens press Back on the sidebar.

Line 4/5a and 4/5b will show the distribution and taxable amount without a 10% penalty.

If this does not completely answer your question, please contact us again and provide some additional details.

@clover716 I deleted the previous post.  This should work better.