• Chloe, age 48, divorced her husband in 2017.
• Chloe's 8 year old grandson, Marcus, has been living with her since his parents were incarcerated in August 2019. Chloe provided all the support for Marcus in 2020.
• Chloe was laid off when her employer closed the business due to the COVID-19 crisis. Chloe received unemployment income, but to make ends meet, she took $9,000 out of her IRA when she lost her job. She spent the money on household bills and food.
• Chloe received an Economic Impact Payment (EIP) of $1,200 in 2020.
• Chloe and Marcus are both U.S. citizens and have valid Social Security numbers. No one else lives in the household with them.

Chloe qualifies for an exception to the 10% additional tax on the early distribution from her IRA because she was a qualified individual adversely impacted by the coronavirus.

True or False?