Retirement tax questions

You will need to amend your 2020 and 2021 tax returns to carry back the excess repayment to 2020 and 2021. Therefore, you will carry back 1/3 of the repayment to each year. 

For the 2020 tax return:

1. Click "Federal Taxes" on the top and select "Wages & Income"
2. Click "I'll choose what to work on"
3. Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)"
4.  On the "Your 1099-R Entries" screen click "edit" next to the Form 1099-R for the Covid distribution
5. Continue until the "Did you repay any of this distribution" screen and select "I repaid part of this distribution" and enter 1/3 of the distribution amount as repaid on the next screen

For the 2021 tax return:

1. Click "Federal Taxes" on the top and select "Wages & Income"
2. Click "I'll choose what to work on"
3. Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)" 
4. Click "Continue" on the “Your 1099-R Entries​​​​​​​” screen
5. Answer "Yes" to the "Did you take a disaster distribution in prior years or repay…" screen
6. Answer "Yes" on the "Did you take a 2020 Qualified Disaster Distribution" screen
7.  Check the box next to "If this was a Coronavirus-related distribution reported in 2020 check here" and enter your information.
8. Enter the 1/3 of the distribution amount as repaid on the "Did you repay any 2020 Qualified Disaster Distribution in 2022?" screen

@rgperrijr13