Retirement tax questions


@Ktweite wrote:

How do I spread it over the 3 years? Or is this something that will show up once the form is updated? 

Right now I put the gross distribution as the full  amount I took out of the tsp because of covid and then below by taxable amount I put the amount I want to report this year ( I split the gross distribution 3 ways) is this the way to do it?

 

thank you


The IRS has a new Form 8915-E for COVID-19 related retirement account withdrawals.  This form has not been finalized by the IRS for filing with a 2020 federal tax return.  The IRS has not announced when this form will be available.  Once available it will be included in the TurboTax software.

We estimate the form may be available sometime in February.