I am attempting to do a rough draft of 2020 taxes ...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

I am attempting to do a rough draft of 2020 taxes and the retirement income section is not available yet. When will it be available?

When will turbo tax retirement income section be available for users?
3 Replies
Level 15

I am attempting to do a rough draft of 2020 taxes and the retirement income section is not available yet. When will it be available?

It could take a couple of months--the IRS is drafting new 1099R forms and then the software programmers have to program for those forms; then the IRS has to approve the software...it is a process.....Sorry.  If you have 2019 desktop software you can try a "what if" using 2019--but it will not have the CARES stuff.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Level 15

I am attempting to do a rough draft of 2020 taxes and the retirement income section is not available yet. When will it be available?

Click on the REVIEW tab to see what it is and when it is estimated to be ready (when operational) ... 

 

IRS Forms Availability Table for TurboTax Individual (Personal) Tax Products

·         

State Forms Availability Table for TurboTax Individual (Personal) Tax Products

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Level 15

I am attempting to do a rough draft of 2020 taxes and the retirement income section is not available yet. When will it be available?

Normally, the 1099-R section is  available at this time of year.

BUT

This year there will be a HUGE rewriting needed for the 1099-R section:

 

1) RMDs taken that are no longer to be considered actual RMDs (will or should the software still call them RMDs)

2) Could what is now not an RMD be converted to ROTH, since RMDs aren't required?

3)  QCD questions that have to be dealt with for what would have been RMDs  (if any QCDs are allowed at all this year)

4)  Then all of the machinations about dealing with the return of $$ from what would have been RMD distributions from IRA/401k/TSP etc. accounts.

 

Dynamic Ads
v
Privacy Settings