turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

ecogrrl
New Member

The SECURE Act says new parents can withdraw up to $5K from a retirement account to pay for adoption expenses & avoid the 10% penalty. Where do I note this on TT?

It's not listed as one of the expenses paid for on the "Did you use your IRA to pay for any of these expenses?" page - do I list this under medical or "other" or...?
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
CatinaT1
Expert Alumni

The SECURE Act says new parents can withdraw up to $5K from a retirement account to pay for adoption expenses & avoid the 10% penalty. Where do I note this on TT?

This did not go into effect until January 1, 2020.  This option will be available when you file your 2020 taxes in 2021.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies