Has TurboTax updated the system per the new stimulus plan; no IRS penalty for early 401K withdrawal?

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This exception applies only to coronavirus-related withdrawals. You qualify if you tested positive, a spouse or dependent did or you experienced a variety of other negative economic consequences related to the pandemic in 2020.

And only for distributions occurring on or after January 1, 2020 and before December 31, 2020.

(Odd that a distribution occurring on December 31, 2020 doesn't qualify as a coronavirus-related distribution. Seems like a drafting error in the CARES Act.)

Getting RMD penalty when using a QCD to fulfill the RMD required distribution. I believe Turbotax is incorrect. Anyone else had this issue?

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Has TurboTax updated the system per the new stimulus plan; no IRS penalty for early 401K withdrawal?

Has TurboTax updated the system per the new stimulus plan; no IRS penalty for early 401K withdrawal?

Has TurboTax updated the system per the new stimulus plan; no IRS penalty for early 401K withdrawal?

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Has TurboTax updated the system per the new stimulus plan; no IRS penalty for early 401K withdrawal?

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Has TurboTax updated the system per the new stimulus plan; no IRS penalty for early 401K withdrawal?

Has TurboTax updated the system per the new stimulus plan; no IRS penalty for early 401K withdrawal?

Unlock tailored help options in your account.

Get more help

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