If you have a child born in 2020 and had a distribution from a tax deferred retirement account reported on a Form 1099-R, there will be questions following the entry of the form for any exceptions to the 10% early withdrawal penalty based on the Secure Act of 2019.
To enter, edit or delete a form 1099-R -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Wages and Income (Personal Income using Home and Business)
- Click on I'll choose what I work on (if shown)
- Scroll down to Retirement Plans and Social Security
- On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R
