TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

401k Covid Relief Withdrawal

Forum|Forum|4 years ago
April 11, 2022
1 reply
0 views

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????

Level 15

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.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Level 2

@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.

Level 2

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

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