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CARES Act for distributions from retirement plans

Level 3

How do you enter waiver of 10% penalty from 1099R with code 1 for a coronavirus-related distribution

in ProSeries? Also how do you report distribution ratable over 3 years?

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Level 15
Level 15

If you scroll down to the disaster section of the 1099R worksheet, you'll find that the required forms for the 3 year spread isnt available yet, were waiting on the 8915E


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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Level 15
Level 15

If you scroll down to the disaster section of the 1099R worksheet, you'll find that the required forms for the 3 year spread isnt available yet, were waiting on the 8915E


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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Level 3

Thanks. What about the waiver of the 10% penalty?

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Level 15

You need form 5329 for the exception as Other, as well as 8915-E for the deferral (or not) over 3 years.

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Level 3

Thank you so much. I thought on 5329 that was the right entry location.

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Level 1

ANy ideas on when these forms will be ready? 

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Level 15

@mn11 

"ANy ideas on when these forms will be ready?"

Yes. You asked this is multiple places. See your question, here:

https://proconnect.intuit.com/community/coronavirus/discussion/re-401-k-10-penalty/01/124111#M964

 

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