Answered: Re: Three year average of tax due from an IRA distribution due to COVID

nmr12354 · ‎03-02-2021

Client took a distribution from her IRA, not an RMD due to COVID. Can the tax be spread over three years

dd4vols · ‎03-02-2021

in the words of the very famous Boy George,,,, Comma, comma, comma..Comma Chameleon!!!

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sjrcpa · ‎03-02-2021

Client took a distribution from her IRA, not an RMD due to COVID

Should this read:

Client took a distribution from her IRA, not an RMD, due to COVID

If so, yes.

The more I know the more I don’t know.

TaxGuyBill · ‎03-02-2021

Read the Instructions for Form 8915-E to see who a qualifying person is. If your client meets definition, yes, the income tax can be spread out over 3 years.

nmr12354 · ‎03-02-2021

Thank you

Nick Ranieri

dd4vols · ‎03-02-2021

in the words of the very famous Boy George,,,, Comma, comma, comma..Comma Chameleon!!!

If an answer solves your issue, click on the "Accept as Solution" button! Makes it easier for people to find answers to similar questions that have already been posted.

dkh · ‎03-02-2021

@dd4vols some useless information for you My daughter has a Tshirt with the comma punctuation marks and a chameleon on it....... wish I had one too

Three year average of tax due from an IRA distribution due to COVID

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