dmertz
Level 15

Retirement tax questions

It's odd that the IRS has not sent you a letter billing you for a tax deficiency for underreporting the 2020 401(k) income.

 

fanfare's suggestion for opt out of splitting the income over 3 years would result in a higher late-payment penalty than would choosing on 2020 Form 8915-E to split the income evenly over 3 years.