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Level 2
posted Jan 3, 2022 7:23:01 PM

When filing taxes for 2021 tax year using turbotax cd edition, how do you handle a 401k withdrawal under the cares act in 2020?

I am preparing to file taxes for the 2021 tax year. I took a cares act withdrawal in 2020 and elected to spread the tax burden out over 3 years. I put the first 1/3 of the gross amount as income when i filed in 2021 for 2020 tax year. How do i input the 2021 tax year portion of the income (1/3 of the gross amount) in TT? I assume I won't get a new 1099-R like i did in 2020 when I took the withdrawal. 

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1 Replies
Level 15
Jan 3, 2022 11:13:03 PM

the procedure for putting in that 1/3 amount is coming later.

Wait for some updates.