THOMAS329
Level 1

The 1099R shows $50000 taxable but when I check the box that it is virus related the taxable amount changes

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TAXOH
Level 11

That's what it should do.  If you don't want to spread it over 3 years you need to open the 8915-E and check the box to not spread it over 3 years.

athaureaux6
Level 8

Hi, if you do it in the 1099 R that is going to be the default command and the software will split it in three years. If you do not want that to happen go the 8915E and check the box that says do not split the distribution or something similar, just put a check and it will transfer the whole amount to the pension income. Remember, if you need to waive the 10% penalty, go the Form 5329, look for Line L, write the whole amount on the space to Line L, you will see that PS writes code 12 on Line 2 and waives the penalty. Good luck and thank you.