You are (or will be when the form is ready) allowed to spread the ordinary tax on the distribution (the penalty is waived) over 3 years, 2020-2022. Once the form is ready, you will enter your 1099-R exactly how you see it. After you enter it, TurboTax will ask you if the distribution was covid-related and if you select YES, we will complete 8915-E for you. The total tax will be calculated and then you choose to only pay 1/3 of that amount on this year's (2020) tax return, 1/3 on your 2021 return, and the last 1/3 on your 2022 return.
But since the form is not ready yet, none of those questions are yet in the software. Its release is tentatively scheduled for 02/25.
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