CARES Act Distributions

IRA account holders that made a Coronavirus Aid, Relief, and Economic Security (CARES) Act related distribution in 2020 will receive a Form 1099-R in late January 2021 indicating any distribution. Issued tax forms are located in our Tax Center, where you can also view our Tax Document Calendar. Please visit the IRS’ information page by clicking here (please note that you are leaving

We advise that you consult a licensed tax professional if you have any questions in regards to properly reporting any CARES Act related distribution or recontributing any CARES Act related distributions.

How will my CARES Act distribution appear on my tax forms?

CARES Act related distributions appear as taxable income

Generally, any CARES Act related distribution(s) list as taxable income in the year you took the distribution. As a result, there are no “special distribution codes” for CARES Act distributions on your Form 1099-R. Despite the listed distribution code, we advise that you consult a licensed tax professional so you can properly report any IRA distribution under the CARES Act. 

How do I contribute to a CARES Act distribution?

Same process as any other IRA contribution

In short, the process to recontribute any distribution made under the CARES Act is the same as a normal contribution. To learn how to make an IRA contribution, please click here. Any contribution made will list on Form 5498 and become available the following calendar year the contribution was made. Again, we advise that you consult a licensed tax professional to properly report any IRA contribution from a CARES Act related distribution.