Cares Act Section 2202 1099-R Distribution

[Kime65]

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.

[qbteachmt]

Wait for the form 8915-E to be finalized on Feb 18 per Intuit; wait for the program to be updated with that form.

[Kime65]

Thank you 

[athaureaux6]

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]

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

[athaureaux6]

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

[Kime65]

Thank you I see it