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10% premature distribution penalty

Level 2

Taxpayer is not yet 59.5 years old.  Proseries is calculating the 10% penalty.  How do I indicate that as a result of the pandemic and CARES Act taxpayer is not subject to the premature penalty of 10%?

  Thank you.

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3 Replies 3
Level 15

Form 5329 - "other" exception.  But technically you are supposed to wait for form 8915E to be finalized before you can go that route.

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Level 1

At the bottom of the 1099-R worksheet. You will have to wait until Feb 25 for the form to be ready. 

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Level 15

https://proconnect.intuit.com/community/retirement-tax-credits-and-deductions/help/generating-form-8...

 

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