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Form 8915 Fill in Capable

Form 8915 Fill in Capable

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jj the cpa here hope you're doing well so if you in 2020 took money from retirement under the cares act exception where you could pull up to a hundred thousand out per person and potentially not pay tax on it immediately or repay it this video is for you so this was not possible in 21 the only the only way that this video applies to you is if in 2020 you pulled money out of retirement and now you have further reporting to do so with that being said it's form 89 15-e that in essence governs this for lack of a better word so if you're preparing a return for somebody that's a new client or you're looking in the own return your own return go and find in the 2020 tax return form 8915e and i'll give you a link to that as well as the instructions but the thing i wanted you to know is that in 21 and 22 if you elected which will be on form 89 15 e it'll indicate what you elected and there's no change in it now you're stuck with whatever it was but if you took the option to recognize a third of

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