Vanessa A
Employee Tax Expert

Retirement tax questions

If you took out the withdraw in 2020, but it will not default until 2022, it would be deemed a distribution in 2022.  To be a a qualified Covid Withdraw, the distribution would have had to happen in 2020.  Since it did not, you would be taxed all at once on your 2022 tax return as the covid withdrawal rules have not yet been extended to any years other than 2020. 

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