JoJo
Level 3

I have a 1099R for $32K that was withdrawn due to COVID.  I know that I can go to Line L on form 5329 and the distribution will not subject to the penalty.  I also know on the 1099R worksheet I can scroll down to the Qualified Disaster portion and mark the 2020 disaster box and enter the amount.  My question is do I enter the whole $32k or just the portion that is going to be reported for this year?  I want the taxable amount to be spread over a three year period.  If I enter the entire $32K how do I get the taxable portion of $10,667. on line 5b of form 1040?  When I originally entered the 1099R both box 1 Gross distribution and box 2 Taxable amount are $32K.  Do I override the taxable amount and enter $10667?  If so, will it be able to be electronically filed?  I do realize that form 8915-E is not eligible to be e-filed and will have to be attached to the file before efiling.  I am using Pro Series Basic. 

 

 

0 Cheers