@Nate93 wrote:
Could i just divide my taxable income by 3 and manually enter that in BOX 2a and use the same 1099-R for the next 3 years?
For example, My taxable income is $5025 in BOX 2a, if i input $1675 for the next 3 years will i be ok?
No. That is done on the 8915-E just for that purpose.
The TurboTax 8915-E should be available on Feb. 24.
See below for a link to sign up for an email when the form is ready.
This form is necessary to report COVID related distributions from IRA's and other retirement plans to report the distribution, pay it back over 3 years or spread the tax over 3 years.
A COVID-19 related distribution is reported on a new 8915-E form.
See this TurboTax FAQ to sign up for an e-mail when the form is ready.
https://ttlc.intuit.com/community/tax-topics/help/why-am-i-getting-getting-a-10-penalty-on-my-1099-r...
**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.**
