SamS1
Expert Alumni

Get your taxes done using TurboTax

If you are in Desktop, go into "Forms" mode and review the 1099R.  While in your return in Desktop:

  1. In the upper right hand corner Select "Forms"
  2. Now in the left hand column of the screen, select the 1099R form you are working on
  3. Review your input then scroll down the screen to the Disaster Relief section.
  4. There you can review the Covid distribution questions and indicate amounts.
  5. To return to Step-By-Step, select in the upper right hand corner.

While in Forms Mode review the forms listing for red !.  You will need to correct these in order to efile.

 

 

The 8915-E will be used for penalty relief from early retirement plan distributions and include the option to spread the distribution income over 3 years.  This may be a good option if the distribution is pushing you into a higher marginal tax bracket.  You may end up paying less tax if you spread the distribution over the 3 years