Cares Act IRA Loan repayment

[Markliner]

I took a $30,000 Cares Act loan from my IRA in 2020 and paid back $10,000 in 2021. Where do I enter the repayment in TurboTax Desktop? Each time I try to enter a Rollover repayment it ignores the Cares Act and says there is a penalty due for over contribution.  How can I enter this information?

[dmertz]

The $10,000 repayment is not a new contribution.  Do not enter it anywhere under Deductions and Credits.

You'll enter this repayment in the Retirement section under Wages & Income, but this section does not yet supporting reporting this repayment, considered to be repayment of a type of disaster distribution.  You'll have to wait for 2021 TurboTax to support Form 8915-F, currently scheduled for release on 03/31/2022.