@ahydress wrote:
So I just got my first of a couple 1099-Rs.
Took distributions to pay recurring debt down do to loss of wages due to covid.
Box 1 = 15K, box 2a = 15K, box 4 = 4500, box 7 =7 "normal distributions". When TurboTax publishes 8915-E, will there be some sort of programatic connection between its 1099-R and it to allow me to report my early distributions "ratably over the next 3 years"?
Yes, that is what the 8915-E is for. We have no idea what the TurboTax interview will look like since it does not exist yet. Any tax withheld in 2020 will be applied to the 2020 tax return and add to your refund if too much withheld.
We have no idea when this will be in TurboTax because nobody (other then the IRS) knows when the IRS will release the form.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
