Amended Return for 2019 Because of 401K Distribution

ChicagoJ — Mon, 22 Mar 2021 14:41:27 GMT

Hello! In 2019, my company over-funded my 401K. I requested and received the overage before the "due date"; however, I did not receive the 1099-R form until 2020 (for my 2020 taxes). I plugged in all the forms into TurboTax this year, as I was going through my 2020 tax return submission. At some point (likely when I entered my 1099-R), I was prompted with a message that I would need to file an amended 2019 tax return. I should have taken a screenshot, but did not... The note indicated that I would need my 2019 TurboTax CD (no problem), but I clicked the button to finish the 2020 return and figure out the 2019 amended return later.

So now I'm trying to figure out the 2019 amended return, and I have no idea where to start. Is there any way to "trip" the note I received when I was working on my 2020 return? I re-installed 2019 and tried to enter the 1099-R form (thinking this would start something), but it assumed that the 1099-R was printed in 2019 (and not 2020). So, for my reason code (P), it said, "Received excess distribution in 2018" -- which isn't the case. I received the distribution in 2020.

Bottom line, I want TurboTax to walk me through what I need to do for the amended 2019 tax return, based on what I submitted (using TurboTax) in 2020 and 2019. Any idea how to start this the right way? Thanks so much!

Re: Amended Return for 2019 Because of 401K Distribution

macuser_22 — Mon, 22 Mar 2021 15:55:00 GMT

When you enter a 2020 1099-R code P in the 2019 software, it will ask if it its a 2019 or 2020 1099-R - select 2020. Then it is taxable in 2019 and not 2018.

Re: Amended Return for 2019 Because of 401K Distribution

ChicagoJ — Mon, 22 Mar 2021 16:10:59 GMT

I appreciate the quick response. When I selected "P" from Box 7, it says 2018 in the description and there is no option to select the appropriate year. Where does that take place?

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Amended Return for 2019 Because of 401K Distribution

Re: Amended Return for 2019 Because of 401K Distribution

Re: Amended Return for 2019 Because of 401K Distribution