Can I not claim income on 1099-R due to reduction of work hours with no pay due to having grade school child and no child care available
01229
1 Replies
SweetieJean
Level 15
Feb 19, 2021 1:29:40 PM
You must still claim it and pay taxes on it. However, you may be able to spread the taxes over 3 years and also avoid the 10% early withdrawal penalty. Come back at the end of the month when Form 8915-E to handle that is ready.