CARES Act of 2020 or SELF-INFLICTED

[jjf2008]

I am still having trouble following the steps.

There's a disconnect in how I am understanding and following your instructions.  Here's your instructions and what the TurboTax Deluxe 2021 screens read:

You: go to the Retirement Income section

Me: Opens with Tabs: Personal Info.; Federal Taxes; State Taxes; Review; File

You: Click on Federal

Me: Click on Tab that reads: Federal Taxes.  The Federal Taxes Opens Up these Tabs:  Wages & Income; Deductions & Credits; Other Tax Situations; Federal Review; Smart Check.

You: Click on Wages & Income

Me: Click on Tab that reads:  Wages & Income.  Screen ask: "How do you want to enter your income?"  It has two (2) choices.  Choice 1 reads: "Walk me through everything"  Choice 2 reads: "I'll choose what I work on".   I tried both and the results were the same for me.  I choose to click on: Choice 2 reads: "I'll choose what I work on".

You: I scroll down to Retirement Plans and Social Security

Me: Clicking on Choice 2 from above, the screen changed and read "Your 2021 Income Summary". 

Scrolled down to "Retirement Plans and Social Security".  

Found: IRA, 401(k), Pension Plan Withdrawals (1099-R).

You: click on the Start or Revisit button

Me: Tab reads: "Update", not Start or Revisit button. 

You: Did you get a 1099-R in 2021? Click on NO, if you did not receive a 2021 Form 1099-R in 2022

Me: Screen reads "Your1099-R Entries".  "Here's what we have so far.  You can add, edit (change) or delete forms."  The opinion was not available to: Click on NO, if you did not receive a 2021 Form 1099-R in 2022.

I did not receive a 1099-R for the IRA this year. How do I my taxes right for Covid19 - 2nd year of the 2021 distribution.  The Payer of my IRA withheld 10% tax in 2020.  I did not realize it and paid an additional 1/3 more taxes on top of the original withholdings.  Now, I need to pay an 1/3 on this 2nd year 2021, and then the last 1/3 in 2022.

At this point, I am not sure what to do.  Can you share your expert knowledge as to how to proceed?  Time is running out and I truly need your help.

Thank you very much,

AWB

[fanfare]

Why did you stop ?

the next question is what you're looking for

Have you ever taken a disaster distribution before 2021?

[jjf2008]

There must be many different version of Turbo Tax Deluxe 2021, because I ask a questions and give complete details, however, the response is great, but when I go to enter the inform, my screen are nothing like the solution.  I've have current Update.

Here is just the latest.  Please read this:

You: Did you get a 1099-R in 2021?

You: Click on NO, if you did not receive a 2021 Form 1099-R in 2022

Me: Screen reads "Your1099-R Entries". 

Me: The Screen reads:  "add, edit (change) or delete forms."

You: Your question ask "Did you get a 1099-R in 2021?"

Me:  No.  It do not ask the question: "Did you get a 1099-R in 2021?"   

You asked me:  "On the screen Did you get a 1099-R in 2021?  Click on NO, if you did not receive a 2021 Form 1099-R in 2022"

Me: I did not receive a 1099-R for the IRA this year. How do I enter the 2021 taxes for Covid19 - 2nd year of the 2021 distribution? The Payer of my IRA withheld all the taxes (10%) of the entire amount in 2020.  I did not realize it and paid an additional 1/3 more taxes on top of the original withholdings.  Now, I need to pay an 1/3 on this 2nd year 2021, and then the last 1/3 in 2022.

You ask:  Have you ever taken a disaster distribution before 2021?

Me:  Yes.  Took 2020 CARES ACT - CoVid19 disaster distribution.  Paid Taxes on the entire amount (10% tax) PLUS paid Taxes on 1/3 of the entire amount all in 2020.  

From Me:  At this point, I am not sure what to do.  Will you share your expert knowledge as to how to proceed? Time is running out and I truly need your help.

Thank you.

[DoninGA]

@jjf2008 The first part of the directions that leads you to the Form 1099-R section were for the online editions.  However, you are using the desktop editions so the instructions are only a bit different.

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

If you land on a screen that says Your 1099-R Entries and there is a form listed which you did NOT enter for tax year 2021, then delete the form.

After deleting the form click on Continue.

On the screen Did you take any disaster distributions in prior years or repay any prior year disaster distribution in 2021?  Answer YES

Answer Yes when asked if you took a Qualified 2020 Disaster Distribution

Check the box that this was a Coronavirus-related distribution reported in 2020

In the box 2020 Form 8915-E, line 4, column b - Leave blank or enter a 0

This is not required on a Form 8915-F for a Coronavirus-related distribution

If the 2020 distribution was from an account that was Not an IRA

Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 9

2020 Form 8915E, line 9, if you checked the box on that line, enter 0

2020 Form 8915E Line 9 

If the 2020 distribution was from an IRA account

Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 17

2020 Form 8915E, line 17, if you checked the box on that line, enter 0

2020 Form 8915E Line 17 

Do not enter anything in the other boxes, leave them blank (empty) or enter a 0

The 1/3 of the amount from the 2020 distribution will be entered on the 2021 Form 1040 Line 4b if from an IRA or on Line 5b if from a retirement plan other than an IRA

After completing the Wages & Income section you will land on a screen Did you take a disaster distribution at any time between 2018 and 2020?

Answer NO since you have already completed the entering the 1/3 of the 2020 distribution.

You can view your Form 1040 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

Using the desktop editions click on Forms.  Open the Form 1040

You should not receive the "Needs Review" in the Federal Review section if -

You Leave blank or enter a 0 in the box for 2020 Form 8915-E, line 4, column b