Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Form 5329 generating a 10% penalty when the cares act Form 8915 gave relief of 100% of the penalty

mj46
Level 3

I don't know why the Form 5329 keeps showing up with a penalty when the distribution is eligible for penalty relief due to the Cares Act.  I have 2 returns already that this has happened.  Does anyone have any idea of why?  And the best way to eliminate it?

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

4 Comments 4
IRonMaN
Level 15

Is form 8915E finalized in your software?


Slava Ukraini!
sjrcpa
Level 15

Distribution Code 1 on the 1099-R?

The more I know, the more I don't know.
Jfc
Level 1

Does the same to me no matter what I reply to RMD question.  Don’t know if I can use Turbo tax as a result

0 Cheers
qbteachmt
Level 15

@Jfc 

This is a professional preparer forum for using Lacerte. You are in the wrong place for TurboTax. These are different programs entirely.

You seem to be lost on the internet.

You’ve come to a Peer User community for Intuit Tax Preparation products supporting tax preparation professionals using ProSeries, Proconnect and Lacerte , and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Thanks.

 

*******************************
Don't yell at us; we're volunteers
0 Cheers