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posted Feb 19, 2021 12:38:10 PM

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

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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.