Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
aungar.chatterje
New Member

Hi all-- has anyone been able to file a withdrawal from their IRA (or 401k) with TT? I keep getting the message that IRS guidelines weren't delivered in time

 
2 Replies
SweetieJean
Level 15

Hi all-- has anyone been able to file a withdrawal from their IRA (or 401k) with TT? I keep getting the message that IRS guidelines weren't delivered in time

If you are asking about waiving the 10% penalty under the CARES Act, that form (8915-E) should be ready in TT by the end of this week.

macuser_22
Level 15

Hi all-- has anyone been able to file a withdrawal from their IRA (or 401k) with TT? I keep getting the message that IRS guidelines weren't delivered in time



The TurboTax 8915-E should be available on Feb. 25 (pending IRS approval by then).

The IRS just finalized the form on Feb 11. TurboTax must now submit their 8915-E software to the IRS for testing to be sure that both TurboTax and the IRS e-file computer are compatible. That process usually takes the IRS 2-3 weeks for approval to release the new form to the public.

See below for a link to sign up for an email when the form is ready.

This form is necessary to report COVID related distributions from IRA's and other retirement plans to report the distribution, pay it back over 3 years or spread the tax over 3 years.

A COVID-19 related distribution is reported on a new 8915-E form.

See this TurboTax FAQ to sign up for an e-mail when the form is ready.
https://ttlc.intuit.com/community/tax-topics/help/why-am-i-getting-getting-a-10-penalty-on-my-1099-r...

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Dynamic AdsDynamic Ads
Privacy Settings
v