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How do I exclude the 10% penalty on early withdrawals from a 401K per the Cares Act? The 2020 Coronavirus check box on the ProSeries Professional 1099-R worksheet doesn't work. A note pops up saying they have not updated their system.
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Go to form 5329 and use the "other" exception. However, to do it properly you also need to file form 8915E which won't be ready for a couple of more weeks.
Slava Ukraini!
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Thanks for the info. I guess we wait.
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Don't yell at us; we're volunteers
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Thanks, IronMan! Using this work around to get returns pumped out at the moment.
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So, do we wait to file the client's returns until the 8915E form comes out? Or mail it in separately?
I see there's a signature box at the bottom of form 8915E.
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The 8915-E was final and out with last week's update, and it is e-filed now.
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It's not showing up in Proseries Professional even with updates performed today.
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Yes, it's in the update last week.
Don't yell at us; we're volunteers
