COVID-19 IRA withdrawal

[Nick B.]

Hello BP,

I am considering withdrawing money from my IRA pursuant to CARES Act.

According to the Act, one has to qualify to be eligible. Besides the obvious qualifiers such as being infected by the virus or losing a job due to the virus how else can one quality?

Obviously, everyone is affected in some way. E.g., my stock market investments went down in value and my apartment syndications stopped distributions. Is that enough to qualify for penalty free withdrawal from IRA under the CARES Act?

Thank you