Question

Where do I enter the Early Distribution Repayment Under Covid

Forum|Forum|5 years ago
March 13, 2021
1 reply
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I took an early distribution of 21K and qualify for COVID under the distribution. I returned 10K of the distribution that was not used. When entering the distribution repayment there are two places that ask if you returned money to the same account or rolled over money to another account. One question under the standard questions for the distribution and then another question under the CaresAct/COVID questions. Do you add the returned amount in for both questions or will that double count your return amount?

D

DanaB27

Please only enter the repaid amount under the COVID questions. Please see these steps:

Login to your TurboTax Account
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and enter your 1099-R
At the question "What did you do with the money?" select "I did something else"
Answer the COVID questions until the "Did you repay any of this distribution?" and select "I repaid part of the distribution"
Enter the amount repaid on the next screen.