vshah
Level 1
04-01-2021
09:20 PM
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One of my clients received corona virus related distributions from his 401k during 2020.
The 10% additional tax on early distributions does not apply to any coronavirus-related distribution.
while preparing the tax return using ProSeries, I have checked box 2020 Coronavirus-related distrubution on Qualified Disaster Distribution Smart worksheet under Form 1099-R worksheet but the program still calculates 10% penalty.
Can someone please advise if certain other box/es are required to be checked or anything else I am missing?
Thanks in advance
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