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Minvest
Level 3
February 6, 2021
Solved

401k Distribution - Covid 19

  • February 6, 2021
  • 3 replies
  • 27 views

My client who is 34, withdrew $37,000.00 from his 401k in 2020.

What are the Covid 19 rules concerning these early distributions and how do I record it on his tax return.

 

Thank you!

Michael

This topic has been closed for replies.

3 replies

dkh
dkh
Level 15
February 6, 2021

https://www.irs.gov/newsroom/coronavirus-related-relief-for-retirement-plans-and-iras-questions-and-answers

hope this helps

    qbteachmt
    qbteachmtAnswer
    Level 15
    February 6, 2021

    https://proconnect.intuit.com/community/retirement-tax-credits-and-deductions/help/generating-form-8915-e-in-proseries/00/121289

     

    Don't yell at us; we're volunteers
      MinvestAuthor
      Level 3
      February 6, 2021

      Thank you so much!! This helps!

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