So the additional form you mentioned earlier is 8915-E. I've actually worked through all of my 2020 returns and dealt with Form 8915-E already. Only 1/3 of the corona distribution is being reported on my 2020 Federal return (and on my part-year NY return as part of Fed AGI). The entire 100% of corona distribution is reported on OR state return.
But you have stated that the remaining 2/3 will NOT be reported on my next 2 returns. How does 8915-E keep it off of my Federal return going forward? That's not how I expected this to play out, but I'm happy to go along with whatever gets the job done.
I was concerned by my inability to completely exempt the 401k from NY State and have been eager to find out what lies ahead as this plays out over the next 2 years.
Please correct me if I'm misreading or misinterpreting anything you've told me thus far.
