athaureaux6
Level 8

Hi, you do not need that form to waive the penalty, go the Form 5329, Look for the Letter L, under Distribution not subject to additional tax or something like that, enter the amount of the distribution on the space for line L, you will see that the program will place code 12 on Line 2, and the 10% penalty will be waived. If you check the instructions for Form 5329, code 12 is reserved for Coronavirus related distributions, you can check the instructions on the irs website, form 5329. I do not think that they have the instructions on the software. I have done many times already this year. The form 8915E is just another way to do it and to split the distribution over 3 years period which is also, for many people tricky because it can cause a tax burden in 21 and 22. Thank you. 

 

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