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Get your taxes done using TurboTax
Because you had the reduction in income, you can designate as much of the distribution as you want. The IRS has not provided any specific limitations on what the distribution must be used for.
Section 2202(a)(4)(A) of the CARES Act defines a coronavirus-related distribution as any distribution from an eligible retirement plan made on or after January 1, 2020, and before December 31, 2020, to a qualified individual.
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March 20, 2021
4:33 PM
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