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Level 1
posted Jan 4, 2021 11:19:15 AM

Has anyone been able to apply Covid19 as a disaster distribution for their 401k in order to spread their tax payments over the next 3 yrs?

When I put in my 401k distribution due to Covid19 there are no options to spread the taxes out on it over the next 3 yrs.

0 3 314
3 Replies
Level 15
Jan 4, 2021 2:45:10 PM

This section of the program is not ready.  We expect a large update around January 7 or 8.  If not then, then updates usually happen once a week during tax season. 

New Member
Feb 1, 2021 10:14:31 AM

When will this update be available 

Level 15
Feb 1, 2021 10:31:30 AM

Turbotax has not updated their guidance.

https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-personal-tax-products/00/26224

 

In their most recent update for tax professionals, Intuit indicated that the IRS would finalize for 8915-E on February 18.  If true, then it should be in Turbotax within 1-2 weeks.  However, The IRS also indicates that form 8915-E can't be e-filed.

 

Of course, The IRS could change or delay things at any time.