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CARES Act 1099-R Taxes withheld
I withdrew from my 401k under the CARES Act as I qualified for the early withdrawal. I had Federal and State taxes withheld, and I knew that my total tax bill would be more than what was taken out. When I enter my 1099-R information, including that the 10% tax was withheld (as the penalty was waived) and TurboTax is still calculating that I owe the 10% tax. Is there a fix in the works for this or do I need to file this year's taxes with a CPA?
ā€ˇFebruary 10, 2021
4:25 PM