Why is the CARES act using line 8b, If you took money out from a 401k, now that money is included in 8b. It defeats the purpose of the stimulus checks for some.

lefty254 · ‎December 28, 2020

macuser_22 · ‎December 28, 2020

That is a question to ask your Congressman since Congress wrote the law and CARES act.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

fanfare · ‎December 28, 2020

what is Line 8b, and what are you entering there ?

macuser_22 · ‎December 28, 2020

I was assuming that the poster was referring to the AGI which was line 8b on the 2019 1040, line 11 on the 2020 1040.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

fanfare · ‎December 29, 2020

Congress has been very anxious to tax your 401k and IRA. They're not going to give you a tax-free distribution.

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Why is the CARES act using line 8b, If you took money out from a 401k, now that money is included in 8b. It defeats the purpose of the stimulus checks for some.