8915E

[Maria B]

The on-line discussion says to open the Form 8915E and check the box to elect not to spread the Covid IRA distribution over 3 years but I cannot check that box - it is an automatically calculated box.  How do I elect to have it all taxed in 2020?  

[qbteachmt]

Here is the Help article:

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

[Maria B]

The article indicates:

If you choose to not spread the taxable amount over 3 years, open the 8915-E and check the following box:

But the box they indicate in the article doesn't actually allow me to check it.  

[qbteachmt]

Is the entire distribution Qualified? If so, did you check the box for that condition?

Was there withholding?

Was there basis, so that not all of this was deferred, anyway?

Did the amount exceed the allowed limit?

More details would be helpful.

[Maria B]

Taxpayer took 6,000 out of their IRA in 2020 that meets the covid requirements.  Taxpayer would like to pay tax on the entire 6,000 in 2020 due to lower income in 2020 than anticipated in 2021 and 2022.  There is no tax basis or anything unusual.  My input looks identical to the article as far as checking the boxes that the entire distribution qualifies for covid disaster - but the Form 8915E box for electing to pay tax on the entire 6,000 in 2020 cannot be checked (the second picture of the article).  When you try to check it you get the standard info "This value is automatically calculated".  It is currently taxing 2,000 but we want the whole 6,000 taxed in 2020.  Thanks for your help!!

[qbteachmt]

I would go back to the 1099-R worksheet:

https://proconnect.intuit.com/community/individual/help/proseries-form-1099-r-faq-s/00/4853