RayW7
Expert Alumni

Retirement tax questions

First, make sure you copy of TurboTax has been updated to include all the current forms.

 

Form 8915-E  for Coronavirus Distributions has been released and now available in TurboTax.

 

If you qualify the 10% penalty will be removed and you will be provided options for repayment.

 

You can access all the information needed by revisiting your 1099-R input information.  During the interview you will have a question 'Was this a withdrawal due to COVID-19 or a Qualified Disaster Distribution'.  Just follow the interview questions and TurboTax will automatically take care for form 8915-E.

 

The 1099 R will be entered in the Retirement Plans and Social Security section.
• Select Federal Taxes
• Select Wages and Income
• Select Show More at Retirement Plans and Social Security
• Select IRA, 401(k), Pension Plan Withdrawals (1099-R)