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Cares Act Section 2202 1099-R Distribution

Kime65
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.

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6 Comments 6
qbteachmt
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.

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Kime65
Level 1

Thank you 

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athaureaux6
Level 8

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. 

Kime65
Level 1

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

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athaureaux6
Level 8

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

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Kime65
Level 1

Thank you I see it

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