topic I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter this information? in Retirement tax questions

I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter this information?

enconnolly — Mon, 23 Feb 2026 10:46:19 GMT

Re: I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter this information?

Opus 17 — Tue, 17 Jan 2023 23:04:11 GMT

I believe you need to file an amended 2020 return.

@dmertz

@Critter-3

Re: I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter this information?

fanfare — Tue, 17 Jan 2023 23:45:28 GMT

did you divide by 3.0?

whatever you paid back in 2022 goes on your 2022 tax return,

any amount more than one third can be carried back to 2021 or 2020.

If you did not divide by 3.0 you carry all your repayment back to 2020.

@enconnolly

Re: I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter this information?

fanfare — Tue, 17 Jan 2023 23:48:21 GMT

"I paid all taxes on it in 2020."

This means you did not divide by 3.0

Re: I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter this information?

enconnolly — Wed, 18 Jan 2023 12:55:13 GMT

Correct.

Re: I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter this information?

dmertz — Wed, 18 Jan 2023 19:44:40 GMT

You'll need to amend your 2020 tax return to obtain a refund of the taxes paid.

Re: I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter this information?

enconnolly — Thu, 19 Jan 2023 23:27:12 GMT

i don't have a tax document for the repayment. looks like employer sends 5498 to IRS. do i need to ask for a corrected W2 in order to amend 2020?

Re: I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter this information?

Critter-3 — Fri, 20 Jan 2023 01:08:02 GMT

No form is needed ... simply amend the return to negate the distribution on the 2020 return.

Re: I paid back my CARES act distribution in 2022. I paid all taxes on it in 2020. How do I enter...

BrittanyS — Fri, 20 Jan 2023 18:48:11 GMT

No, you will not need to have a corrected W-2 to amend your 2020 return. The repayment options allowed individuals to pay all or part of the amount of distributions as long as those payments were made within a three-year repayment period.

If you filed your 2020 return through TurboTax Online you can log in to TurboTax Online and select Amend a filed return. You will continue to correct your return using Form 1040X.

Please see the following links for how to correct your federal tax returns:

How to Correct Federal Tax Returns

IRS Amended Return FAQ

@enconnolly