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Level 3
March 21, 2021
Solved

CARES Act Notice 2020-50

I have a couple that took distributions from an IRA due to income reductions caused by Covid.  They are able to prorate their distributions over 3 years to spread out the tax on the distributions.  How would that be entered on the 1040?  Can I attach an explanation?  

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qbteachmt
qbteachmtAnswer
Level 15
March 21, 2021

3 replies

IRonMaN
Level 15
March 21, 2021

Look closely at the 1099R worksheet.  There are some boxes to check that will then create a form 8915E.

Slava Ukraini!
qbteachmt
qbteachmtAnswer
Level 15
March 21, 2021
PaulaBAuthor
Level 3
March 21, 2021

Thank you!!!  Just what I needed.