You'll need to sign in or create an account to connect with an expert.
No ... 2019 distributions are not exempt from taxes or penalties.
Your distribution taken during 2019 is not exempt from any of the early withdrawal penalties for COVID. If you were under the age of 59 1/2 when you took the money out in 2019 you are subject to the 10% early withdrawal penalty and ordinary income tax. The CARES act pertains to a withdrawal in 2020.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
yejtax
Level 1
l-bannister
New Member
s-sifford
Returning Member
taxdan94
New Member
bhuether
Level 3
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.