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Should I account for payments I made under Section 2302 of CARES ACT in my 2021 tax return?

 
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1 Reply
ColeenD3
Expert Alumni

Should I account for payments I made under Section 2302 of CARES ACT in my 2021 tax return?

Yes.

 

You will go to the Retirement/1099-R section. When asked if you have a 1099-R, answer no. Then you will be asked if you made a disaster-related retirement distribution, and answer yes. 

 

  Follow these steps to report any further tax to be paid:

 

  1. Login to  TurboTax 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R”
  4. If you do not have any 2021 1099-R answer "No" to "Did you get a 1099-R in 2021?"
  5. Answer "Yes" to the "Have you ever taken a disaster distribution before 2021?" screen.

You will be guided through the screens.

 

 

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