Anonymous
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Under the CARES Act. the 10% additional tax does not apply to a coronavirus related IRA distribution. I do not see this option in TurboTax and am still charged the 10%.
Here is the IRS document: https://www.irs.gov/newsroom/coronavirus-related-relief-for-retirement-plans-and-iras-questions-and-...
"Q5. Do I have to pay the 10% additional tax on a
coronavirus-related distribution from my retirement
plan or IRA?
A5. No, the 10% additional tax on early distributions does not apply to any
coronavirus-related distribution."
"Q5. Do I have to pay the 10% additional tax on a
coronavirus-related distribution from my retirement
plan or IRA?
A5. No, the 10% additional tax on early distributions does not apply to any
coronavirus-related distribution."
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ā€ˇFebruary 7, 2021
6:41 AM