@cyndee5101 wrote:
OK... and Turbo Tax will automatically include that form?
Also, if I choose to do this but then next year want to include all of the balance of that distribution can I do that as well? So in other words, instead of including the next 1/3 of that distribution next year just include the balance of that distribution that's leftover?
The From 8915-E will be included in the TurboTax program after the IRS releases the form and has certified that the form included in TurboTax meets the IRS requirements under the regulations. Guidance has not yet been formally released by the IRS.
IRS website - https://www.irs.gov/newsroom/coronavirus-related-relief-for-retirement-plans-and-iras-questions-and-...
The Treasury Department and the IRS are formulating guidance on section 2202 of the CARES Act and anticipate releasing that guidance in the near future. IRS Notice 2005-92 PDF, issued on November 30, 2005, provided guidance on the tax-favored treatment of distributions and plan loans under sections 101 and 103 of the Katrina Emergency Tax Relief Act of 2005 (KETRA) as those provisions applied to victims of Hurricane Katrina. The Treasury Department and the IRS anticipate that the guidance on the CARES Act will apply the principles of Notice 2005-92 to the extent the provisions of section 2202 of the CARES Act are substantially similar to the provisions of KETRA that are addressed in that notice.
