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401k covid distribution

LauraB
Level 1

Where do i report a covid 401k distribution election to report  over  3 years?

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4 Comments 4
IRonMaN
Level 15

In roughly two weeks you can enter it on form 8915E.


Ukraine - hang in there
lrhenry04
Level 3

Out of curiosity... Is everyone waiting for the 8915E to remove the 10% penalty too?

I can see waiting for the form to report the 1/3 taxing but can we just enter the amount as other on Form 5329 to remove the penalty? If the IRS asks for additional information, then send the 8915E?

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IRonMaN
Level 15

You put your clients at risk if you don't use form 8915E.


Ukraine - hang in there
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Just-Lisa-Now-
Level 15
Level 15
scroll down the 1099R worksheet to the disaster section, it will tell you the program isnt updated to accommodate Covid distributions yet.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪