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Hello. I chose that a withdrawal was made from my retirement plan and now I can't delete it. What can I do? Thanks

 
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3 Replies
BillM223
Employee Tax Expert

Hello. I chose that a withdrawal was made from my retirement plan and now I can't delete it. What can I do? Thanks

OK, I assume that you received a 1099-R for the withdrawal, that you entered it, and now you want to delete it, right?

 

Go to Wages & Income->Retirement Plans and Social Security->IRA, 401(k), Pension Plan Withdrawals and click Update (or whatever the button to the right says).

 

The next screen should show you a list of previous entries that you had made. On the right you should be able to click on Delete or something similar to remove that 1099-R entry.

 

Note that these instructions are from the desktop version of the product; the online version might differ. Come back if you can't make this happen.

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Hello. I chose that a withdrawal was made from my retirement plan and now I can't delete it. What can I do? Thanks

I'm sorry. I didn't ask the right question.  It was not a withdrawal it was a loan and I chose that I did a withdrawal by mistake. 

MarilynG1
Employee Tax Expert

Hello. I chose that a withdrawal was made from my retirement plan and now I can't delete it. What can I do? Thanks

You don't need to add a loan from your Retirement Plan to your tax return, unless you stop making payments, and receive a 1099-R.  If that applies, you would add the 1099-R to the Retirement Income section as income.

 

If you didn't receive a 1099-R, you can delete the loan if you entered it in the Retirement Income section as @BillM223 instructed. 

 

@Lennimarie 

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