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I have a 1099R for $32K that was withdrawn due to COVID.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.
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