I already filed the money I received. I did that in my 2017 taxes. I didn't receive any money in 2018. So I didn't have any distributions in 2018, but do I still need to answer yes to the question since I had distributions in 2017, even though that's already been filed?
I assume you're asking about the Retirement Saver's credit, form 8880
No, distributions to a non-spouse beneficiary are not to be included in the Retirement Savings Contributions Credit section.
Similar to original question my wife received a 1099-R and a check from her employer retirement account after she quit in 2020. We reported this on our 2020 taxes. But while filing our 2021 taxes the question asks "did we receive any distributions from a retirement plan after 2018?" - technically yes in 2020 - but do we still need to report that since we already did for our 2020 return. Should I answer yes or no? Thank you for any help.
@tcbushman wrote:
Similar to original question my wife received a 1099-R and a check from her employer retirement account after she quit in 2020. We reported this on our 2020 taxes. But while filing our 2021 taxes the question asks "did we receive any distributions from a retirement plan after 2018?" - technically yes in 2020 - but do we still need to report that since we already did for our 2020 return. Should I answer yes or no? Thank you for any help.
The question is being asked in case you had a 2020 distribution due to a Coronavirus-related issue and spread the distribution over three years, that needs to be reported on the 2021 tax return. If this does not apply to your 2020 distribution then answer NO.
@tcbushman , the question being asked is in regard to limitations that affect the Retirement Savings Contributions Credit, not anything about a Coronavirus-Related Distribution. The original question on this thread asked about a distribution from an IRA inherited by a non-spouse beneficiary, so your and your wife's situation is different. TurboTax does not carry forward the necessary information from your 2020 tax return, so if the he distribution that your wife received in 2020 was not rolled over, you must answer YES and be enter the amount on your wife's tax return and, if you are filing separately, also on your own tax return.