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ABHATT4426
Level 1
February 10, 2021
Question

COVID19 RELATED WITHDRAWAL FROM 401K AND IRA -DISTRIBUTION IN INCOME RATABLY OVER THREE YEARS- HOW TO ADDRESS

  • February 10, 2021
  • 2 replies
  • 12 views

I HAVE DRAWN $15,000.00 FROM MY 401-K AS COVID 19 RELATED DISTRIBUTION. I WANT TO INCLUDE 1/3RD OF TOTAL DISTRIBUTION AS TAXABLE PORTION. THE BALANCE $10000.00 WILL BE REPORTED IN 2021 AND 2022. HOW TO HANDLE THIS SITUATION IN PROSERIES PROFESSIONAL TAX P

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    2 replies

    IRonMaN
    IRonMaN
    Level 15
    February 10, 2021

    1.  You need form 8915E but it won't be ready for a couple of weeks.

    2.  Please don't type all in caps.  It's hard to read for all of us old people answering questions here.  Some even consider it shouting and you don't really want to have to go stand in the corner of the classroom for shouting in class, do you?

    Slava Ukraini!
      qbteachmt
      qbteachmt
      Level 15
      February 10, 2021

      https://proconnect.intuit.com/community/retirement-tax-credits-and-deductions/help/generating-form-8915-e-in-proseries/01/121289#M4382

       

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