Hello, I had a 2020 CRD and received a regular 1099-R last year for the full amount. I elected to pay the tax over a 3 year period and paid 1/3 of the tax last year, as I filed with early withdrawal as a CRD. When I started my taxes this year I did not see Turbotax bringing in the next 1/3 payment that is due this year. I am assuming I will not receive another 1099-R this year since there was no activity on that account this year. How do I tell Turbotax to pay the 1/3 federal and state taxes this year?
You'll need to sign in or create an account to connect with an expert.
come back later after TurboTax adds that procedure with an update.
When will TurboTax have this available?
@dduran001 wrote:
When will TurboTax have this available?
You will report this in the Retirement Plans and Social Security section under Wages & Income. However, the Form 8915-F has not been finalized by the IRS for including in a 2021 tax return so the questions are not being asked until the form is available. There is no estimate from the IRS when this form will be available, but guessing sometime in March 2022.
Hi,
Took money from 1099-R on 2021 for COVID and want to spread it over three years, cant find Forms 8915-F E or F. I am using the home and business version? Anybody can help?
@universaltax2022 wrote:
Hi,
Took money from 1099-R on 2021 for COVID and want to spread it over three years, cant find Forms 8915-F E or F. I am using the home and business version? Anybody can help?
If you had a distribution in 2021 that is not eligible for a Coronavirus-related distribution to be spread over 3 years. That was only available for a 2020 distribution.
Thank you. Is Coronavirus Related Distributions expired in 2020?
@universaltax2022 wrote:
Thank you. Is Coronavirus Related Distributions expired in 2020?
No sure what you mean. If you did not have a distribution from a retirement plan in 2020 reported on a Form 1099-R then you cannot use the 3 year spread of the distribution due to the Coronavirus.
In 2021 took money out and received 1099R for 2021. Can I spread owed taxes over three years instead of paying all in 2022?
This is the first time I am using Turbotax. I have a Qualified coronavirus distribution received in 2020 and I elected to spread the taxable amount over 3 years. I already declared 1/3 of the taxable amount in 2020 and 2021 and I am having trouble with the program. Can someone help?
Please follow these steps to report the 3rd portion of the COVID distribution (or any repayment):
No, if it was a regular distribution and not a qualified disaster distribution then you cannot spread it over 3 years. A 2021 Form 1099-R belongs on your 2021 tax return.
Please see Coronavirus-related relief for retirement plans and IRAs questions and answers for additional information
I have the desktop version for 2022, and nothing worked to correct this (I tried everything on the message boards) so I took an extension, hoping TurboTax was going to fix it with an update. Is that going to happen?
@Problemwith8915 All you need to do is go through the section for a Form 1099-R and answer the questions concerning a 2020 distribution.
To enter, edit or delete a form 1099-R -
Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
On the screen where you are asked if you received a Form 1099-R in 2022, answer NO if a 1099-R was not received.
On the following screen where asked if you ever took a disaster distribution in a prior year or repaid a prior year distribution in 2022 answer YES.
On the following screen where asked if you took a 2021 disaster distribution answer NO if you did not.
On the following screen where asked if you took a 2020 Qualified Disaster Distribution answer YES. Then make sure that the box for a Coronavirus-related distribution reported in 2020 is checked.
Complete entries for tax year 2021 payments from the 2021 Form 8915-F and Continue.
On the following screen enter any 2022 re-payments made for the 2020 disaster distribution and Continue with this section of the program until it completes.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
friedrich_kanz
New Member
PMS2017
New Member
whp Retired
New Member
ANX
Returning Member
nmk460
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.