CPA4Life
Level 2
02-10-2021
09:44 AM
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I have a client who was furloughed from his job during March/April and made his early distribution at that time. I believe that qualifies with the CARES Act.
The 1099 he sent has the distribution code as "1" which forces a 10% penalty. How do I eliminate that on Lacerte? Would I change the distribution code as "2" even though that's not what the 1099 states?
Any help here would be greatly appreciated, thank you!