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Thank you I reviewed your token and you haven't answered the 2020 Qualified Disaster Distribution question. But I saw you had two Form 1099-R entered, are both of them from 2022? Please make sure you do not enter your 2020 Form 1099-R on your 2022 tax return. You will need to answer the 2020 Qualified Disaster Distribution questions to enter the 3rd portion (1/3 of the distribution).
Please follow these steps to report the 3rd portion of the COVID distribution or any repayment:
Please be aware that you won't see the 3rd portion on the Income summary in TurboTax but you can verify that it is entered correctly by checking Form 1040 4b (for IRA) or 5b (for none IRA).
To preview Form 1040:
Please verify that Form 8915-F doesn't have an entry on line C if you are only reporting the 3rd portion of the 2020 Covid distribution (you may be asked to pay first):
If you need to delete the line C entry (if you only had the Covid Distribution):
Another option is to delete both "Form 8915-F" and "Qualified 2020 Disaster Retirement Distr" and then go back to the retirement section and reenter the information:
Thank you. That does not fix my problem and it shows that I have to pay thousands of dollars more than I expected because it is showing my income 100k more than what it should show. When will TurboTax fix this issue?
Solution posted elsewhere:
You have to delete the 2020 Qualified Distribution Worksheet. Then go back through income and revisit the retirement section.
I cannot recreate your issue and it would be helpful to have a TurboTax ".tax2022" 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 Online:
The instructions for TurboTax Download:
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.
Perfect. Thank you. My token number is 1099756.
Thank you I reviewed your token and you haven't answered the 2020 Qualified Disaster Distribution question. But I saw you had two Form 1099-R entered, are both of them from 2022? Please make sure you do not enter your 2020 Form 1099-R on your 2022 tax return. You will need to answer the 2020 Qualified Disaster Distribution questions to enter the 3rd portion (1/3 of the distribution).
Thank you for all of your help. Another concern, we paid a percentage on our coronavirus distribution in 2020 should that be shown on this year taxes? Year 2020 & Year 2021 it showed up, I believe on line "25b". Can you help me with that please? I sent you a new token: 1100128 Thank you!
No, the withheld taxes on the 2020 Form 1099-R were only applied to your 2020 tax return and are not spread over 3 years. Most likely you received some of these taxes back on your 2020 tax return. Please verify that you entered the full amount when you entered Form 1099-R box 4 on your 2020 tax return. Please verify that you didn't enter 1/3 of the taxes withheld shown on the 2020 Form 1099-R on your 2021 tax return.
I review your token and you entered the 3rd portion correctly.
Working with a TT customer they entered lines 12 and 13 for 20 and 21 distributions (through outside CPA). TT accounted for distributed amounts reducing refund amount appropriately following the interview below. (5b enty)
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