We split the 401K distribution over 3 years and only paid the taxes on the first year. How do we enter the 2nd year in TurboTax? I bought the software, I'm not doing the online version.
Thank you!
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See this post about the Cares Act
https://ttlc.intuit.com/community/retirement/discussion/pension-taxes/00/2400459
The ability to enter the payment has not yet been implemented in TurboTax. The IRS has not even released the form for it yet. Once those forms are implemented you will visit the "Retirement" topic in the "Wages and Income" tab. If you have Forms 1099-R for TY2021 distributions, you can enter them as usual.
If not, you just select "NO" when asked if you received a 1099-R.
At either point, you will then be asked about prior year "Disaster Distributions." Follow the prompts from there to enter the second installment of your distribution.
The new 8915-F for form that is still in the draft stage at the IRS and might not be released until March sometime.
Thank you for both answers.
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