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Retirement tax questions
I think I know the answer but need a second opinion- I am planning to capitalized on spreading the early distribution as income over 3 yr but claiming all the taxes paid on this early distribution for 2020. For example received 45K and paid $9K on the early distribution. For 2020 filing, I will report $15K as income but for taxes paid on this distribution I will report $9K to maximize my refund as my income bracket will slide down to a marginal rate of 9%. Is this acceptable and will the software be smart enough to take the full amount of the $9K taxes paid for 2020 while spreading only $15K for 2020.
ā€ˇFebruary 23, 2021
6:28 PM