Any reason not to use form 5329 to report a qualified covid early distribution form a 401k? taxpayer does not wantt to spread it over three years nor pay back any of the distribution. They do not want to wait for form 8915-E to be ready.
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Thanks for the count update. I needed to get the backup counter in sync since I knew it was off. It was showing 623,758.1487514847362177237199999. I think the thryroid plate needs to be replaced but I was hoping to make it last until 2/25.
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"They do not want to wait for form 8915-E to be ready"
This is what you are waiting for:
"Line 9. If you don’t check the box on line 9, you must spread the amount on line 8 over 3 years. By checking the box, you elect to include the entire amount in income in the year of distribution."
So, I guess they don't get what they want.
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