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Get your taxes done using TurboTax
@dboshers Your TurboTax desktop program may need to be manually updated for CARES Act Retirement Distribution changes.
Click 'Online' from the top menu, then choose 'Check for Updates'.
The newly enacted economic stimulus package allows those negatively affected by COVID-19 to borrow up to $100,000 from their 401(k) and IRAs without penalty.
It also allows the borrower to pay the taxes on that withdrawal over three years rather than all at once.
Click this link for more info on How to Enter 1099-R.
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March 31, 2021
1:02 PM