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Retirement tax questions
The draft instructions for Form 8915-E indicate that you must file Form 8915-E if you received a CRD, and that would include on reported with code 2, but as with any draft the instructions might change.
The payer has the option of using code 2 in box 7 if they know that the distribution is a CRD, with the code 2 automatically making the distribution exempt from an early-distribution penalty, but you still need Form 8915-E to be able to spread the income from this distribution over three years if you so choose or if you repay any of the distribution by the due date of your tax return.
‎February 8, 2021
3:37 PM