Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- A client did an covid withdrawal from 401k in 2020 in the amount of $30,000. It was added to their 2021 taxes making there income for 2020 $30,000 more because they haven't made any payments. Why is t...
A client did an covid withdrawal from 401k in 2020 in the amount of $30,000. It was added to their 2021 taxes making there income for 2020 $30,000 more because they haven't made any payments. Why is the $30,000 being added back to their 2021 taxes?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
This discussion has been locked.
New comments cannot be posted on this discussion anymore. Start a
new discussion
1 Comment 1
qbteachmt
Level 15
01-31-2022
04:12 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Everyone else is complaining that the carry-forward amount isn't carried forward. You seem to have something in the wrong place, if it doesn't even apply to 2021. If they reported as taxable in 2020 all of what they took in 2020, you should not see it in 2021, of course.
By the way, you put your entire text of your issue into the Title. Feel free, next time you start a topic, to use both Title, and then the content box.
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
