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form 8915-E
When entering my 1099, I am not asked questions related to COVID even though i checked that I took the money out due to covid related issues. Then when I get to the end the message reads "
We Were Unable to Lower Your Tax Bill"
Since you didn't use the money for a special situation that qualifies, we couldn't help you reduce the amount of extra tax you have to pay. Based on your entries so far, your extra tax bill is $___, or 10% (25% for a Simple IRA) of the money you took out. This number may change as you add more info to your return. |
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‎February 25, 2021
11:39 AM