Enter qualified retirement distribution exceptions for COVID-19

Use these steps to enter a distribution from a retirement plan that qualifies for an exception for COVID-19-related distributions.
  1. Go to the
    Retirement
    folder.
  2. Select the
    1099R
    screen.
  3. Enter the distribution information as it's reported on Form 1099-R.
  4. Select the
    1099R-2
    screen.
  5. Go to the
    Qualified Disaster (or COVID-19) Distribution and Repayments
    section.
  6. In the
    Year of qualified disaster
    field, enter
    2020
    .
  7. In the
    Disaster Name
    field, select
    US: Coronavirus-related (1/1 - 12/31)
    .
  8. In the
    Qualified distribution amount
    field, enter the amount of gross distribution on Form 1099-R, Box 1 that qualifies.
  9. By default, the taxable amount of the distribution will be spread over 3 years. This means that only 30% of the qualified distribution amount will appear as taxable on the return. If you want the full distribution to be taxable this year, mark the
    Elect out of 3 year income averaging
    field.
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