IRS Form 4972 walkthrough (Tax on Lump Sum Distributions)

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Use Form 4972 to figure the tax on a qualified
lump-sum distribution (defined below) you
received in 2022 using the 20% capital gain
election, the 10-year tax option, or both.
These are special formulas used to figure a
separate tax on the distribution that may
result in a smaller tax than if you reported the
taxable amount of the distribution as ordinary
income.
You pay the tax only once, for the year you
receive the distribution, not over the next 10
years. The separate tax is added to the
regular tax figured on your other income.