Can I list Covid-19 as a qualified natural disast…

You do not need to list Covid-19 on your tax return. If you are referring to a retirement related distribution due to Covid, you would need to file a Form 8915-E to avoid the 10% penalty from your distribution. To answer Covid related questions under 1099-R, see steps below.If you are using TTO, there are no known issues. If you are using the desktop option, we are working to resolve this issue.Click here:Covid related questions

To enter your Form 1099-R in the program, follow here:

In TurboTax online,

If you are under age 59 1/2, the distribution from the retirement accounts is considered as an early withdrawal. Generally, you are subject to an additional 10% penalty of your entire distribution unless you met certain criteria. Due to the Section 2202 CARES Act, if your distribution is related the Covid-19, you will not be liable for this additional penalty. For more information from the IRS, click here:Covid Relief. If your distribution is not related to the Covid, you will need to pay the penalty.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

See more here:

Can I list Covid-19 as a qualified natural disast...

Related Posts
Tags: