Question

Is it possible to pay the taxes on my 401k withdraw of 100000 using the cares act

Forum|Forum|5 years ago
February 1, 2021
1 reply
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Over a 3 year period

TurboTax Free Edition Online

Yes, you can spread the taxation of your 401(k) withdrawal (up to $100k) over three years if you were affected by Covid-19.

However, the Coronavirus-related relief measures for retirement plan distributions have to be reported on form 8915-E which has not yet been finalized by the IRS. No date has been given by the IRS for the finalization of this document.

TurboTax will update this section after the IRS releases the final version of form 8915-E and its instructions. Please revisit this section at a later date.

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