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LauraB
Level 1
February 12, 2021
Question

401k covid distribution

Where do i report a covid 401k distribution election to report  over  3 years?

This topic has been closed for replies.

4 replies

IRonMaN
IRonMaN
Level 15
February 12, 2021

In roughly two weeks you can enter it on form 8915E.

Slava Ukraini!
    lrhenry04
    Level 4
    February 12, 2021

    Out of curiosity... Is everyone waiting for the 8915E to remove the 10% penalty too?

    I can see waiting for the form to report the 1/3 taxing but can we just enter the amount as other on Form 5329 to remove the penalty? If the IRS asks for additional information, then send the 8915E?

    IRonMaN
    IRonMaN
    Level 15
    February 12, 2021

    You put your clients at risk if you don't use form 8915E.

    Slava Ukraini!
    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    February 12, 2021
    scroll down the 1099R worksheet to the disaster section, it will tell you the program isnt updated to accommodate Covid distributions yet.
    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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