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1099-R 2020 Corona relief

Level 1

Is the 1099-R worksheet working for 2020 distributions.  I am still getting the 10% penalty?


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2 Replies 2
Level 15

Use form 5329 and click on "other" for the reason if they qualify for the COVID exception

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
Level 7

Go to Form 5329, look for Distribution Not subject to additional Tax, find Letter L, enter the amount of the distribution and the software will transfer code 12 to line 2 waiving the penalty. Hope it helps.