Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

CARES ACT: IRA withdrawals under relief provisions

Level 1

How is the software accommodating these provisions that qualified IRA withdrawals under the CARES ACT can be spread out over 3 years?

I have a 1099-R w/ a 1 in the distribution code.  Is that correct?

 

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Level 13

The 1099-R is correct.

You will need to use Form 8915-E, but I'm not sure if that is available yet in Lacerte.

You might also need to waive the 10% penalty using Form 5329 (code 12).

View solution in original post

0 Cheers
2 Replies 2
Level 13

The 1099-R is correct.

You will need to use Form 8915-E, but I'm not sure if that is available yet in Lacerte.

You might also need to waive the 10% penalty using Form 5329 (code 12).

View solution in original post

0 Cheers
Level 1

thank you! 

0 Cheers