DanaB27
Expert Alumni

Retirement tax questions

You might have to check your entries. The amount will be included on Form 1040 line 5b (this should be 1/3 of the 2020 Coivid distribution). The amount of tax you pay on it will depend on your tax bracket.

 

Please follow these steps to report the 3rd portion of the COVID distribution:

 

  1. Login to your TurboTax Account 
  2. Click on the "Search" on the top and type “1099-R”  
  3. Click on “Jump to 1099-R” 
  4. If you do not have any 2022 1099-R answer "No" to "Did you get a 1099-R in 2022?"(If you have any other 1099-R then enter all 1099-R and after entering your last 1099-R click "Continue" on the “Review your 1099-R info​​​​​​​” screen)
  5. Answer "Yes" to the "Have you ever taken a disaster distribution before 2022?" screen
  6. Answer "Yes" to "Did you take a 2020 Qualified Disaster Distribution?"
  7. Check the box next to "If this was a Coronavirus-related distribution reported in 2020 check here", enter your information from your 2021 Form 9815-F (should be 1/3 of the 2020 Covid distribution on lines 12 and 13), and then continue.

 

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