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kevinfrancom
New Member

Does anyone know when the early 401k withdrawal disaster distributions for covid19 will be ready? I get a message the IRS instructions are not ready.

 
2 Replies
MinhT1
Expert Alumni

Does anyone know when the early 401k withdrawal disaster distributions for covid19 will be ready? I get a message the IRS instructions are not ready.

The Coronavirus-related relief measures for retirement plan distributions have to be reported on form 8915-E which has not yet been finalized by the IRS. No date has been given by the IRS for the finalization of this document.

 

TurboTax will update this section after the IRS releases the final version of form 8915-E and its instructions. Please revisit this section at a later date.

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Kim1967
New Member

Does anyone know when the early 401k withdrawal disaster distributions for covid19 will be ready? I get a message the IRS instructions are not ready.

I don't understand why there is an IRS delay for withdrawals taken in 2020. There already was an IRS delay last year for 2020 returns, but then the IRS provided the details and I was able to submit the first third of my 2020 withdrawal with my 2020 taxes. For my 2021 taxes I need to submit my second third of my 2020 withdrawal. To me the IRS has already dictated the specific details last year for 2020 withdrawals and taking the second third in my 2021 tax return now, and then next year taking the final third in my 2022 tax return, should not require any further IRS involvement or delays.

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