Coronovirus Retirement Distribution in 2020

Forum|Forum|4 years ago
April 10, 2022
3 replies
9 views

Since it is virtually impossible for Preparers to remember everyone who opted to treat Retirement Distributions as Coronovirus Related Disaster and the distribution did not carry over into 2021 Tax Return on the software, can the repayment begin on the 2022 Tax return or do we have to amend the 2021 return to include repayment amount?

ProSeries Basic

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T

TaxGuyBill

Level 15

@jackie310 wrote:

repayment amount?

Repayment? As in the taxpayer rolled the money back into the IRA?

Or do you mean tax payment on the 1/3 distribution? If you missed that on the 2021 return, it needs to be amended. You really need to review the prior year tax return before filing a final return.