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8915-E

Ghost-Tax
Level 2

Client that took out 100k from his 401k. Early distribution and he is under 59 1/2 yo. Today, 03/18/21 I could not find the form on proseries. Do you have any suggestions on when the form will be done or any other options?

While I filled out form 1099-r towards the bottom of the form there are two options:

A If this is a qualified disaster distribution...2020 coronavirus-related distribution is an option (I clicked on that one and it does not change anything in the amount owed) and also

B Amount of qualified disaster distribution with 2 options: entire distribution qualified or amount that is qualified ...

 

If both A & B are clicked then the early penalty disappears.

Anybody had to deal with this?

 

Thanks

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Accepted Solutions
Just-Lisa-Now-
Level 15
Level 15

If you clicked those 2 boxes on the 1099R worksheet, then it automatically spread it over 3 years and took away the penalty...have you looked at the 8915E in your list of forms in use and looked at the front page of the 1040?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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3 Replies 3
Just-Lisa-Now-
Level 15
Level 15

If you clicked those 2 boxes on the 1099R worksheet, then it automatically spread it over 3 years and took away the penalty...have you looked at the 8915E in your list of forms in use and looked at the front page of the 1040?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

Ghost-Tax
Level 2

Lisa, you are on fire here!!!

I did look on the front 1040 and did see the $33,333 amount but I didn't see the 8915E-T. Now that you mentioned it I did see it pop in. But when I type in "Where Do I Enter" 8915-e or 8915e nothing comes up.

Once again, thank you Lisa, you are awesome!

Just-Lisa-Now-
Level 15
Level 15
The WDIE button is struggling this year, it worked much better in prior years!

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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