horab
Level 1
02-25-2021
08:10 PM
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How do you elect to payback the distribution over 3 years when none of it is payed back
by the time you file your return?
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2 Comments 2
qbteachmt
Level 15
02-26-2021
11:56 AM
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
qbteachmt
Level 15
02-26-2021
11:58 AM
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"If, for example, you receive a coronavirus-related distribution in 2020, you choose to include the distribution amount in income over a 3-year period (2020, 2021, and 2022), and you choose to repay the full amount to an eligible retirement plan in 2022, you may file amended federal income tax returns for 2020 and 2021 to claim a refund of the tax attributable to the amount of the distribution that you included in income for those years, and you will not be required to include any amount in income in 2022. See sections 4.D, 4.E, and 4.F of Notice 2005-92 for additional examples."
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.