qbteachmt
Level 15
10-02-2020
10:42 AM
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Don't overlook that Notice 2020-50 explains the retirement plan administrator may or may not know or accept that this is a covid-related distribution, and that the individual still gets to treat it as such, and there will be a new form:
"A qualified individual receiving a coronavirus-related distribution is entitled to the following favorable tax treatment with respect to the distribution by reporting the distribution on the individual’s federal income tax return for 2020 and on Form 8915-E, Qualified 2020 Disaster Retirement Plan Distributions and Repayments (or if there is no federal income tax return for 2020, by filing just Form 8915-E)."
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Don't yell at us; we're volunteers