TaxGuyBill
Level 15
05-15-2021
03:23 PM
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Tax applies, there is no special exception for that.
I also want to point out the waiver of the penalty and the ability to spread it out due to Covid is only for qualified people. While many people qualify, it is NOT an an all-encompassing thing for everybody. So be sure to read the Instructions for Form 8915-E to make sure your client qualifies.