10% Early Withdrawal Penalty Waiver

Forum|Forum|5 years ago
February 25, 2021
5 replies
30 views

Ive clicked the box for 2020 Corona Virus Related Distribution and the penalty is not waived. When I enter the amount on line B "Amount of Qualified Distribution", it then splits the distribution in 3 and only taxes a third of the distribution and waives the penalty. How do can I waive the penalty while paying tax on the entire amount?

ProSeries Professional

This topic has been closed for replies.

Best answer by chasetax

8915e is there--under select forms--go to the column that has form 8910 at the top--look down the column and the forms are confusing--you will see form 8915e-t(taxpayer) and 8915e-s(spouse)

T

twisniewski7Author

Level 3

I thought the update was supposed to be today.

qbteachmt

Level 15

"How do can I waive the penalty"

Form 5329

"while paying tax on the entire amount?"

Form 8915-E (T or S)

Don't yell at us; we're volunteers

T

twisniewski7Author

Level 3

There is no 8915-E for 2020 available, I updated pro series 3 times today.

C

chasetaxAnswer

Level 6

8915e is there--under select forms--go to the column that has form 8910 at the top--look down the column and the forms are confusing--you will see form 8915e-t(taxpayer) and 8915e-s(spouse)

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