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$100,000 out of IRA for COVID

Answered by: 

Question: 
If my customer takes out a coronavirus distribution up to $100,000, do I have to prove he or she had the virus?
Answer: 

No, but the best practice would be for you to have her or him certify that he or she is eligible. The customer has to have the virus, a family member has the virus, or he or she must be affected by the virus. This could be unemployment, daycare issues, reduced hours of work and more.

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IRA Year End Wrap-Up

First published on 11/22/2020

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