LinaJ2020
Expert Alumni

Get your taxes done using TurboTax

Please double check the numbers on your tax return.  The total distribution amount should show on line 5a of your Form 1040.  It is only for reporting purposes.  It is not taxable.  The 1/3 portion should show on Schedule 1 as other income.  

 

"For example, if you receive a $9,000 coronavirus-related distribution in 2020, you would report $3,000 in income on your federal income tax return for each of 2020, 2021, and 2022. However, you have the option of including the entire distribution in your income for the year of the distribution."

 

For more details, click here:  Covid Relief

 

 

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