The 3rd installment of the Cares Act. I answer "no" to receiving a 1099R, but "yes" to taking a 2020 disaster distribution. How to show the 3rd installment as income?

I have taken no other disaster distribution. Why does it keep telling me to go back to the 401(k), IRA module? The 3rd taxable amount is not even showing as income.

392

Expert Alumni

Mar 19, 2023 12:53:25 PM

If you transferred your 2021 info into your 2022 return, the amount for the one-third disaster installment income may automatically be included. If not, you can enter the amounts from your 2021 return (screenshot). When TurboTax asks for 'type of disaster' leave this blank.

If you're using TurboTax Online, go to Tax Tools Tools and select 'View Tax Summary'. Back at the left-side menu, choose 'Preview My 1040'.

The amount you are being taxed on this year for your 2020 Disaster Distribution will be included in the amount on Form 1040, Line 5b, Taxable Amount of Pensions and Annuities.

@pj3seneff

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The 3rd installment of the Cares Act. I answer "no" to receiving a 1099R, but "yes" to taking a 2020 disaster distribution. How to show the 3rd installment as income?