Corona Virus retirement distribution repayment

[tjelke]

I made a repayment of my Corona Virus relief IRA distribution. Where in the interview portion do I go to so turbo tax adds a 8915 E ? I have tried through the normal contribution questions and I get an "excess contribution",

[DianeW777]

The Form 8915 is not yet completed by the IRS.  It is still in draft, you can check the following links periodically to see when it is available.

• IRS Draft Forms List

• When will federal forms be available?  (TurboTax List)

Once available you will be able to enter it in TurboTax. Begin with the steps below:

1. Go to Federal > Wages and Income 
2. Retirement plans and Social Security > Show more 
3. Ira (401K), pension plan Withdrawals(1099R)  Start
4. Here you will enter your 1099R.  After you are done with one and reach a summary screen, there will be an opportunity to enter more 1099's.

[tjelke]

I will not have a 1099 R this year since the distribution was in 2020. All I will have is the carryover from the 8915-E from that year which I need to enter somewhere on this years return and have a way to reflect the 40K I paid back. Thank you for your response.

[VolvoGirl · Accepted solution]

The ability to enter the payment has not yet been implemented in TurboTax. The IRS has not even released the form for it yet.  Once those forms are implemented you will visit the "Retirement" topic in the "Wages and Income" tab.  If you have Forms 1099-R for TY2021 distributions, you can enter them as usual. 

If not, you just select "NO" when asked if you received a 1099-R. 

At either point, you will then be asked about prior year "Disaster Distributions."  Follow the prompts from there to enter the second installment of your distribution.  

[VolvoGirl]

And a distribution is not a contribution.  Delete it from the contribution section.