The software seems to have an issue with the 3rd year calculations for the 2020 CARES act Corona early withdraw. It is charging a 10% penalty for early withdraw which was waived and inflating my taxable amount.
The 8915 worksheet and line 5B on the 1040 do not match. Line 5B is adding the amount from the worksheet plus the value on the 1099R.
Is this issue being fixed ? will it be corrected by 4/18 ?
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Here is a workaround provided by expert DanaB27 that is working-
Be sure to follow the instructions carefully. Try both options if necessary.
Please try these steps to fix the issue:
Another option is to delete "Form 8915-F" and "Qualified 2020 Disaster Retirement Distr" and then go back to the retirement section and reenter the information:
Thanks but I have tried both of these options - I am still being hit with the penalty and the calculations are wrong giving me an inlfated amount on my 1040.
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