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icici_903b0a3b-4
January 31, 2021
Question

Can I put amount in "Others" category to get Tax Benefit? If yes, what document proof would be required for that in future if IRS selects my case for Audit?

  • January 31, 2021
  • 1 reply
  • 0 views
I dont have any W2 or any income in the USA in 2020 and I only took money out of my 401(k) due to COVID-19 situation in my family business (I did not directly loose job or anything). How can I get Tax Benefits for taking money out of 401(k) due to COVID-19 Pandemic Situation?

1 reply

P
PattiF
January 31, 2021

You can get the benefits from the CARES Act. A newsroom posting from the IRS shows your situation under Q3. 

 

CARES Act for Retirement Plans 

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