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 Section 2202 1099-R Distribution

Level 1

Need guidance as to how to properly enter the 1099-R if the recipient received a distribution not subject to the 10% penalty as a result of COVID-19 for both Federal and State.

Labels (1)
0 Cheers
6 Replies 6
Level 15

Wait for the form 8915-E to be finalized on Feb 18 per Intuit; wait for the program to be updated with that form.

*******************************
"Level Up" is a gaming function, not a real life function.
Level 1

Thank you 

0 Cheers
Level 7

The update is coming soon. But if you look at the 1099 R and scroll down you will the option that says Coranavirus Distribution, if you check, it will waive the 10 % penaltly once is updated , you already see something pops up that says it is not updated. And also you will use 8915E if you elect to split the distribution in 3 years. Hope it helps. 

Level 1

I searched the 1099-R and I did not see anything referencing Coronavirus.  Please advise 

0 Cheers
Level 7

GO TO THE 1040, LINE 5A, PENSIONS, CREATE A 1099R, SCROOL DOWN AND YOU WILL SEE SOMETHING THAT SAYS DISASTERS DISTRIBUTIONS. 

0 Cheers
Level 1

Thank you I see it

0 Cheers