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Form 1099-R's are sent in January or early February. You will have to report the Form 1099-R that you will receive for the withdrawal -
To enter a form 1099-R -
Or enter 1099 r in the Search box located in the upper right of the program screen. Click on Jump to 1099 r
Form 1099-R's are sent in January or early February. You will have to report the Form 1099-R that you will receive for the withdrawal -
To enter a form 1099-R -
Or enter 1099 r in the Search box located in the upper right of the program screen. Click on Jump to 1099 r
I understand that but do I have to enter the entire amount or do I enter 1/3 of the amount for 3 years even though my 1099 has the total amount?
You will report this on a Form 8915-E. The IRS has not yet finalized the Form 8915-E for retirement plan distributions under the CARES act. So this form cannot be included in the TurboTax program. You will not be able to proceed until the form is available.
The IRS has not communicated when the form will be finalized for inclusion on the 2020 federal tax return.
We estimate it will be sometime in February 2021 before the form is available. You can watch this link for the form availability. Currently, the form is not listed here since there is no estimated date. Once there is, you will find the form listed with the date available.
IRS forms availability table for TurboTax individual (personal) tax products
Additionally, the IRS will not start processing returns until February 12, so waiting for this form is not slowing down the processing of your return.
Thank you!!
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