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The tax return that you are preparing now is for 2019. You could not have made a Covid-19-related IRA withdrawal in 2019. The special provisions for IRA withdrawals for Covid-19 apply only to withdrawals made in 2020. If you made an early IRA withdrawal in 2020 because of circumstances related to Covid-19, you will indicate that on your 2020 tax return, that you file in 2021.
What are the rules for 2020 Covid-19 withdrawal?
Or where can I find them.
@Jack421 wrote:
What are the rules for 2020 Covid-19 withdrawal?
Or where can I find them.
Go to this IRS website for information for taxpayers affected by COVID-19 who take distributions or loans from retirement plans in 2020 - https://www.irs.gov/newsroom/relief-for-taxpayers-affected-by-covid-19-who-take-distributions-or-loa...
Thank you for the link.
I had gone to IRS site and had looked several days ago, but guess I did not look hard enough.
Thanks again!
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