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Retirement tax questions
The 8915E is live in the Online product but is not available yet for the desktop products. I would suggest deleting the 1099R and re-entering it then checking the box for Covid related distribution in the Uncommon Situations screen. The 8915-E will be used for penalty relief from early retirement plan distributions and include the option to spread the distribution income over 3 years. This may be a good option if the distribution is pushing you into a higher marginal tax bracket in 2020. You may end up paying less tax if you spread the distribution over the 3 years.
ā€ˇFebruary 25, 2021
10:25 AM