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

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

CARES Act IRA Distribution

I took an early distribution out of my IRA under the CARES Act. Using Turbo Tax my Federal return processed the distribution properly by allowing me to spread at least one-third or up to the full distribution on 2020 taxes or spreading over the next 3 years. However, the state (MN) seems to be taxing the full amount of the distribution. Before I file I was hoping to gain some confirmation that Turbo Tax is processing this correctly- that the state of MN is NOT following the Federal CARES Act provision of spreading the taxable distribution amount over three years.

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

CARES Act IRA Distribution

That is correct.  MN does an add back on line 4 here:

2020 M1NC, Federal Adjustments (state.mn.us)

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question