sanket2016
Returning Member

Retirement tax questions

The code in box 7 is 1B. It's a early withdrawal from Roth 401k. I need to pay tax on the Roth earnings.

I did NOT check the IRA box - I've triple-checked my 1099-R entries several times.

 

Yes, there is a taxable amount in box 2a.

 

My 401k plan administrator issued me a "Qualified CARES act withdrawal certificate" because I meet the eligibility criteria.

 

Issue: Right now, TT is charging me the 10% penalty and not giving me any option to spread tax over 3 years. (There is no mention of a Cares Act withdrawal in all of the 1099-R steps, or even after wrapping up Federal income.)

This issue is occurring in Federal taxes. I've gone through all the steps and finished my Federal taxes; I haven't started my state taxes yet.

 

Thanks