We took a CARES Act withdrawal in July and I received my 1099-R yesterday from TIAA but on the form its coded in box 7 with code 1 rather than code 2. I contacted the company to ask them to change it to a code 2 (because someone I chatted with yesterday via TurboTax said it should be) but they will not change it. Am I going to be taxed differently because of this code? TIAA said for the CARES withdrawals you can use either code but they couldn't say if I would be taxed differently because they are not tax professionals. I'm hoping someone here might know what I need to do to be sure I'm not penalized with more taxes on the withdrawal. Thank you in advance!
