IRA distribution

[mazamitla]

I am living abroad , moving around, now in Uruguay .

I am using Taxact .
Last year in March I did direct rollover of my 401 to traditional IRA, hold by Vanguard .
When using Taxact for 2017 taxes , there were questions included how much money
I distributed up to date of filing tax return , April 2018 .
I took money in March 2018 , and answered the question accordingly to the
true .
Because it was an significant amount , it erased my credit of contribution and raise
amount i owned to IRS . I paid .
Now Vanguard included (obviously) this amount in my 1099 form .
By the way Taxact does not have this question anymore.
If I am going to declare distribution accordingly to 1099 , my
amount to pay will be 3k higher and I will pay the tax twice on the same money .
I did not have any distribution after April 2018 , and my dividends are really low .
I contacted Taxact , by email, but nothing , phone , not doable .
What to do ? Thanks in advance e

 

[Taxing Matters]

I am living abroad , moving around, now in Uruguay .

I am using Taxact .
Last year in March I did direct rollover of my 401 to traditional IRA, hold by Vanguard .
When using Taxact for 2017 taxes , there were questions included how much money
I distributed up to date of filing tax return , April 2018 .
I took money in March 2018 , and answered the question accordingly to the
true .

Are you sure the question was how much was distributed and not how much was contributed to the IRA before April 15? For your 2017 tax return, distributions you took in 2018 wouldn't matter. But you may make contributions to your IRA as late as 4/15/2018 and have them count as contributions for 2017 if you want, assuming the contribution would give you a deduction for that year.

 

[mazamitla]

Yes I am pretty sure it was about distribution .
After I answered this, I got the message, my distribution excess
my contribution, and the credit because of contribution was removed .
Yes, when it was happening , I had unpleasant filling , something was wrong ,
but it was not possible to consult anybody from Taxact from abroad .
e

 

[LdiJ]

Yes I am pretty sure it was about distribution .
After I answered this, I got the message, my distribution excess
my contribution, and the credit because of contribution was removed .
Yes, when it was happening , I had unpleasant filling , something was wrong ,
but it was not possible to consult anybody from Taxact from abroad .
e

If you really did include a 2018 distribution as income on your 2017 tax return you can amend the return to remove the distribution.