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April 18, 2022
Question

1099-r

  • April 18, 2022
  • 1 reply
  • 0 views

I took a loan in 2020 from my 401k with the covid exception and decided to spread it over 3 years but have not received a new 1099-R form and am not sure how to enter for this years taxes.  Any assistance would be appreciated.

 

1 reply

ColeenD3
April 18, 2022

No, you do not get a new 1099-R. You did not have a distribution. No, you do not re-enter a 1099-R as it does not apply to this year. You will still go that section. When asked if you have a 1099-R, answer no. Then you will be asked if you made a disaster-related retirement distribution, answer yes. 

 

  Follow these steps to report any further tax to be paid:

 

  1. Login to  TurboTax 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R”
  4. If you do not have any 2021 1099-R answer "No" to "Did you get a 1099-R in 2021?"
  5. Answer "Yes" to the "Have you ever taken a disaster distribution before 2021?" screen.

You will be guided through the screens.