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1099-R COVID distribution

PattiV
Level 1

Is there an AGI phase out for the COVID related retirement distribution rules? I have a millionaire client who says he qualifies because he had a salary reduction for 4 months. He says that caused him to have adverse financial consequences. Please tell me millionaires are not eligible.

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3 Replies 3
qbteachmt
Level 15

Read the Form 8915-E instructions:

https://www.irs.gov/pub/irs-pdf/i8915e.pdf

 

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KylieCampbell
Level 1

Thx you for sharing!

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PattiV
Level 1

THANK YOU

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