Blondie Posted March 6, 2021 Report Share Posted March 6, 2021 So besides the waived early withdrawal penalty, it looks like ATX is waiving tax altogether on that first $100,000! And it won't let me override. Anyone else experiencing this? My client took out $125K and ATX is only taxing $25K. (Separate issue--it also calculated no 10% penalty on the remaining $25K, but I was able to manually do that on form 5329.) Quote Link to comment Share on other sites More sharing options...
Lion EA Posted March 6, 2021 Report Share Posted March 6, 2021 I think taxing over 3 years is the default. There's a box to check on Form 8915-E if you want it all taxed on this return. Quote Link to comment Share on other sites More sharing options...
Blondie Posted March 7, 2021 Author Report Share Posted March 7, 2021 Yes, I did do that. I'm talking about it not taxing that $100,000 at all. It's just taxing the excess. Quote Link to comment Share on other sites More sharing options...
TexTaxToo Posted March 7, 2021 Report Share Posted March 7, 2021 Don't know about ATX, but some software is not showing anything as taxable until you actually create/print the return. Then the 1/3 gets added in as taxable. Quote Link to comment Share on other sites More sharing options...
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