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401k Distribution - Covid 19

Minvest
Level 3

My client who is 34, withdrew $37,000.00 from his 401k in 2020.

What are the Covid 19 rules concerning these early distributions and how do I record it on his tax return.

 

Thank you!

Michael

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Accepted Solutions
qbteachmt
Level 15

https://proconnect.intuit.com/community/retirement-tax-credits-and-deductions/help/generating-form-8...

 

*******************************
"Level Up" is a gaming function, not a real life function.

View solution in original post

3 Replies 3
qbteachmt
Level 15

https://proconnect.intuit.com/community/retirement-tax-credits-and-deductions/help/generating-form-8...

 

*******************************
"Level Up" is a gaming function, not a real life function.

View solution in original post

Minvest
Level 3

Thank you so much!! This helps!