How do I report early distribution of 401k from calendar year 2020 for a distribution under CARES Act? Last yr, I had a 1099-R and reported 1/3 of full amt

[johnwsc9]

I added a 1099-R but TurboTax wants to calc 10% early dist penalty

[ColeenD3]

No, you won't enter your 2020 1099-R but you have to answer questions in the Retirement section of TurboTax.

However, this section is not available at the moment because the IRS has not yet released the final version of Form 8915-F and you'll need to revisit this section later.

Once the section is available follow these steps to report any repayment:

1. Login to your TurboTax Account 
2. Click on the Search box on the top and type “1099-R”
3. Click on “Jump to 1099-R”
4. If you do not have any 2021 1099-R answer "No" to "Did you get a 1099-R in 2021?" (If you have any other 1099-R then enter all 1099-R and after entering your last 1099-R click "Continue" on the “Review your 1099-R info” screen)
5. Answer "Yes" to the "Have you ever taken a disaster distribution before 2021?" screen

[jbommarito5]

Do we know when the IRS will have this finish so we can complete our taxes?

[MayaD]

Form 8915-F, Qualified Disaster Retirement Plan Distributions and Retirements  replaces Form 8915-E, it won't be available until 03/31/2022. Federal Individual Form Availability

Once the form is finalized by the IRS, it has to be coded and tested for calculations and e-filing acceptability.