8915-F payoff the last two years, this year

[carlosfhts]

My client wants to account for the remaining distribution so he doesn't have to account for a third next year. 

In other words, instead of being taxed on a third of his 2020 distribution  he wants to pay taxes on the remaining two thirds this year.

Any suggestions on how?

[IRonMaN · Accepted solution]

He can't do that.  Once he elected for the three year spread, he is in it for three years.

[carlosfhts]

That's what I thought.

Thanks for the response

[IRonMaN]

You betcha!

[qbteachmt]

You can amend 2020 and opt out of the three-year spread. Now they owe all of it.