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Retirement tax questions
@ diesel19914 wrote:I just completed a tax return and went to file and it was rejected with a message that they were awaiting more information. When I clicked on the more information button I received the following message... "Pensions/Annuity/IRA Worksheet. Taxable Pens/IRA/Reg Dist) We are still working on updates related to retirement distributions that qualify for disaster or Covid relief. You can keep working on your return and we will remove this message when it's ready."
This has to do with a IRA withdrawal due to COVID and reduction in pay. The amount is fully taxable but the penalty is waived due to COVID.
Any help would be appreciated. How long will update take? etc. I am prompted tp print and sent to IRS but will take 4-6 weeks!!!!!!!!!!!!!
Was it a rejection after efiling, or a "check this entry" message preventing you from actually efiling? And was that message for a Federal or a state return? I know several states are having known state return issues with Form 8915-E and are being worked on. I think I saw in other threads NY, HI, and MI, and possibly others.
I saw this FAQ suggesting that the Form 8915-E info may not yet be fully incorporated into all state returns yet.
I'm a fellow user, and that's pretty much all I know about it, but I'll see if someone familiar with the retirement income topic can comment any further.
@ dmertz Do you know anything specific about this issue?
In the meantime, if you haven't already done so, if you are using desktop software (CD/download), be sure you retrieve the latest program updates. Online TurboTax should update automatically.