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Deb Kelly
Returning Member

does anyone know where to amortize the up to 100 k distribution from 401 K for corona. virus I thought it was over three years ?

 
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PattiF
Expert Alumni

does anyone know where to amortize the up to 100 k distribution from 401 K for corona. virus I thought it was over three years ?

Yes, you will be able to amortize up to 100k of a 401k distribution for up to three years. This will be entered on Form 8915-E which is currently not available from the IRS.

 

The IRS will be releasing Form 8915-E to use with the 1099-R. Here is more information:

CARES Act and 1099-R Withdrawal.

 

The software has not been updated yet because the form has not been finalized by the IRS. Once the software has been updated, you will be prompted through the form with instructions on how to enter the information.

 

The IRS has not provided a release date for the form at this time. Use this link IRS Form Availability to watch for when the 8915-E form will be available in the software once the IRS completes it.

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