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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

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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.