Cares Act Covid-19 distribution from 401k 2020 broken up over 3 years (2020, 2021, 2022) Did not receive a new 1099-R for 2021. Turbo tax doesn't ask for info for this?

[DW71]

Hi @DoninGA  @Cynthiad66  @JulieS , Since the Cares Act expired in 2020, I read about a subsequent stimulus package extended the early retirement distribution repayment period to 3 years (10% early withdrawal penalty still applies).  I was wondering if this exception was extended to 2022. I can’t seem to find any information on this topic for 2022 and whether it has reverted back to the original rules of repayment in 60 days.  I’m particularly concerned with the income recognition rule, and whether the 3 year break could still be applied on 2022 withdrawal, or do I need to recognize income in the current year?  Thank you! 

[SweetieJean]

@DW71 So far, there is no such extension that covers 2022 retirement withdrawals (nor was there one for 2021 ones to my knowledge).

[SteveB12]

I was just told March 31st is expected date of form being incorporated in software.  My state taxes were showing not fully paid last year, due to form not being there. 

[VioletaRuggles]

Hi,

How do I report the amount related to the Care Act Covid-19 Using the 2022 TurboTax?  Was the form added to the software or not yet?  Is TURBOTAX having an update to include the Form 8915-F?

Thanks,

Vivi

[Boga415]

I think the form just became available a few days ago My husband completed ours , but I think last years info ( with remainder of distribution ) popped right up 

[HopeS]

Re: Is Form 8915-F available for tax year 2022 in TurboTax?

Form 8915-F is now available to complete your return. Please follow the guidelines provided below:

Please try these steps to fix the rejection issue:

1. Login to your TurboTax Account 
2. Click on the "Search" on the top and type “1099-R”  
3. Click on “Jump to 1099-R” 
4. If you do not have any 2022 1099-R answer "No" to "Did you get a 1099-R in 2022?" (If you have any other 1099-R then enter all 1099-R and after entering your last 1099-R click "Continue" on the “Review your 1099-R info​​​​​​​” screen)
5. Answer "Yes" to the "Have you ever taken a disaster distribution before 2022?" screen
6. Answer "Yes" to "Did you take a 2020 Qualified Disaster Distribution?"
7. Uncheck the box next to "If this was a Coronavirus-related distribution reported in 2020 check here" and click Continue
8. On the "Which disaster affected you in 2020?" screen I selected the blank entry and click "back" 
9. Then recheck the box next to "If this was a Coronavirus-related distribution reported in 2020 check here" and continue.

Another option is to delete "Form 8915-F" and "Qualified 2020 Disaster Retirement Distr" and then go back to the retirement section and reenter the information:

1. Open or continue your return in TurboTax.
2. In the left menu, select "Tax Tools" and then "Tools".
3. In the pop-up window Tool Center, select "Delete a form".
4. Select "Delete" next to "Form 8915-F" and "Qualified 2020 Disaster Retirement Distr" and follow the instructions.
5. Click on the "Search" on the top and type “1099-R”  
6. Click on “Jump to 1099-R” 
7. If you do not have any 2022 1099-R answer "No" to "Did you get a 1099-R in 2022?" (If you have any other 1099-R then enter all 1099-R and after entering your last 1099-R click "Continue" on the “Review your 1099-R info​​​​​​​” screen)
8. Answer "Yes" to the "Have you ever taken a disaster distribution before 2022?" screen
9. Answer "Yes" to "Did you take a 2020 Qualified Disaster Distribution?"
10. Check the box next to "If this was a Coronavirus-related distribution reported in 2020 check here" and enter your information.

See the Link Below for Additional Information:

Form 8915-F

@Boga415 

[VioletaRuggles]

It was a little bit confusing point 7. "Uncheck the box next to "If this was a Coronavirus-related distribution reported in 2020 check here" and click Continue"  I wasn't clear because it wasn't check, so I was following your instructions blindly and it worked!  Thank you so much.  Vivi

[Rennaegade]

I go through all the steps and it still shows $0.00 on the home page for your income. I don’t understand. I have 10k left to declare. Last year I used the 8915F and also for 2020. No matter what I try it won’t add it as income 

[Boga415]

I remember this, but not very well  if you go back to the questions there is one question  which seems like you would answer  yes and you need to change it to no or the answer seems like it should be no but you need to say yes. You also might be able to find some directions on these threads. Sorry to be so vague but it’s some thing about the questions. Good luck

[zakgw117]

I'm in the same boat right now, need to figure this out to complete my taxes and no much time left

[Boga415]

• This might be what I remember

[CatinaT1]

Here is a workaround provided by expert DanaB27 that is working- 

Be sure to follow the instructions carefully. Try both options if necessary.

Please try these steps to fix the rejection issue:

1. Login to your TurboTax Account 
2. Click on the "Search" on the top and type “1099-R”  
3. Click on “Jump to 1099-R” 
4. If you do not have any 2022 1099-R, answer "No" to "Did you get a 1099-R in 2022?" (If you have any other 1099-R, then enter all 1099-R and after entering your last 1099-R, click "Continue" on the “Review your 1099-R info​​​​​​​” screen)
5. Answer "Yes" to the "Have you ever taken a disaster distribution before 2022?" screen
6. Answer "Yes" to "Did you take a 2020 Qualified Disaster Distribution?"
7. Uncheck the box next to "If this was a Coronavirus-related distribution reported in 2020 check here" and click continue
8. On the "Which disaster affected you in 2020?" screen, I selected the blank entry and clicked "back" 
9. Then recheck the box next to "If this was a Coronavirus-related distribution reported in 2020, check here" and continue.

Another option is to delete "Form 8915-F" and "Qualified 2020 Disaster Retirement Distr" and then go back to the retirement section and reenter the information:

1. Open or continue your return in TurboTax.
2. Select "Tax Tools" and then "Tools" in the left menu.
3. In the pop-up window Tool Center, select "Delete a form".
4. Select "Delete" next to "Form 8915-F" and "Qualified 2020 Disaster Retirement Distr" and follow the instructions.
5. Click on the "Search" on the top and type “1099-R”  
6. Click on “Jump to 1099-R” 
7. If you do not have any 2022 1099-R, answer "No" to "Did you get a 1099-R in 2022?" (If you have any other 1099-R, then enter all 1099-R, and after entering your last 1099-R, click "Continue" on the “Review your 1099-R info​​​​​​​” screen)
8. Answer "Yes" to the "Have you ever taken a disaster distribution before 2022?" screen
9. Answer "Yes" to "Did you take a 2020 Qualified Disaster Distribution?"
10. Check the box next to "If this was a Coronavirus-related distribution reported in 2020, check here" and enter your information.

Please let us know if this works for you.

[Rennaegade]

This did not work. It does not show the amount I entered 

[Boga415]

Oh no ! The first time we had this problem we had to call TurboTax. To get the expert help where the person is actually looking at your return you have to upgrade. She was able to go through it with us and go out the second portion of our distribution to show up. I do remember it had something to do with all of the questions, But even she had to mess with it a while to make it work. Good luck

[Boga415]

Maybe this will help