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Level 2
posted Jan 25, 2021 3:52:05 PM

Does anyone know when Turbotax will be updated with the correct Cares Act rules for early retirement withdrawals? Thanks.

Meaning no 10% early withdrawal penalty and spreading the taxes over 3 years.

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1 Replies
Level 15
Jan 25, 2021 4:27:34 PM

We don't know, since the IRS has not even released its own version of the form yet.  Once it does, it then must approve TT's version (programming) before TT can do so.