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Retirement tax questions
The instructions for 2020 Form 5329 say that you can report an Other reason exception on the amount of the coronavirus-related distribution. However, the draft instructions for Form 8915-E say that you must file Form 8915-E if you received a coronavirus-related distribution. If you report just an Other reason exception on Form 5329, it's likely to be questioned by the IRS.
February 3, 2021
2:49 PM