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Level 2
January 26, 2021
Question

CARES Act Withdrawal

  • January 26, 2021
  • 1 reply
  • 6 views

I am not seeing form 8915-E for use to offset the 10% penalty, or a choice to spread the tax to 3 years. When is this going to be updated in Turbo Tax? You can access the form on the IRS website, but it is nowhere in Turbo Tax. Please help!! 

1 reply

DoninGA
Level 15
Level 15
January 26, 2021

Coronavirus-Related Distributions will be reported on the new IRS Form 8915-E, Qualified 2020 Disaster Retirement Plan Distributions and Repayments (Use for Coronavirus-Related Distributions).

 

The IRS has not yet finalized the Form 8915-E or the Form 8915-E instructions.

There is currently no date from the IRS for when this form will be available.

 

Please provide a link to the IRS.gov website which shows the Form 8915-E and the instruction being finalized for tax year 2020.

chicks445Author
Level 2
January 26, 2021

Here is the link to the IRS form 8915-E.  I do see that it does state that it is a draft. Do we know when it will be a final copy?

https://www.irs.gov/pub/irs-dft/f8915e--dft.pdf

DoninGA
Level 15
Level 15
January 26, 2021

As previously stated - There is currently no date from the IRS for when this form will be available.