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posted Aug 9, 2022 6:26:37 AM

Can you add 1/3 of a 401K withdrawal each year due to Covid? if so where on your return?

Where on my return can I place 1/3 of retirement withdrawal each year opposed to all in one year due to Covid and Cares Act?

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1 Replies
Level 15
Aug 9, 2022 6:32:54 AM

That was an option ONLY on the 2020 return for covid distributions made in 2020.   If you made a 2021 distribution you cannot spread it out over 3 tax years ... the entire 1099-R amount goes on the 2021 return.