401k Covid Relief Withdrawal

[tamijo22]

I am using the desktop software. I followed the instruction but it looks like it is doubling the amount reported as income. What am I doing wrong????

[DanaB27]

To clarify, line 5 b on Form 1040 shows more than the $10,000 (assuming you didn't have any other 401k distributions)?

Please leave the 2020 Form 8915E, line 4, column b line blank.

[tamijo22]

@DanaB27 yes, line 5b show 20k instead of 10k.

I do have the 2020 Form 8915E, line 4 blank.

Under the Qualified 2020 Disaster Distribution from Retirement Plans (Other than IRAs) 

when I enter 10k in the first field, it says I owe month (because it is putting 20k on my 1040). if I leave this field blank and enter 10k in the 2020, Form 8915E, line 9 at the bottom, it says I don't owe any taxes and I would receive a large refund. 

[DanaB27]

 You are entering the amount from Form 8915-E, line 9 twice (this amount should be 1/3 of your 2020 COVID distribution) and it doubles the amount on Form 1040 line 5b?  That is strange.

It would be helpful to have a TurboTax ".tax2021" file that is experiencing this issue. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions for TurboTax Download: 

1. On your menu bar at the very top, click "Online"
2. Select "Send Tax File to Agent"  
3. Click "Send"
4. The pop-up will have a token number
5. Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

@tamijo22

[tamijo22]

@DanaB27 the token # is 996198. This section has been holding me up for the past few weeks. I've ready and followed every post, at one point it was working but I could tell it wasn't figuring out my tax rate correctly and now this issue. 

[DanaB27]

I reviewed your file. I couldn't find where the excess amount came from but I was able to solve it by deleting the 8915E-T worksheet in Forms mode and going back to the interview and renter the information:

1. Click on the "Search" on the top and type “1099-R”  
2. Click on “Jump to 1099-R” 
3. Answer "No" to "Did you get a 1099-R in 2021?"
4. Answer "Yes" to the "Have you ever taken a disaster distribution before 2021?" screen
5. Check the box next to "If this was a Coronavirus-related distribution reported in 2020 check here". 
6. Leave the box under it blank.
7. Enter the amount from Form 8915-E, line 9 twice ($10,000)

@tamijo22 

[tamijo22]

@DanaB27 I closed out of the software before opening my return and I'm still having the same issue. :(

[tamijo22]

@DanaB27 ignore my last post. I deleted the form and everything is working. Thank you so much for your help.