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I just purchased the turbo tax home & business 2020 version.I have qualified for the cares act 401k withdraw penalty free up to 100k.How do I enter qualification?

 
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DoninGA
Level 15

I just purchased the turbo tax home & business 2020 version.I have qualified for the cares act 401k withdraw penalty free up to 100k.How do I enter qualification?

The IRS has a new Form 8915-E for COVID-19 related retirement account withdrawals.  This form has not been finalized by the IRS for filing with a 2020 federal tax return.  The IRS has not announced when this form will be available.  Once available it will be included in the TurboTax software.

We estimate the form may be available sometime in February.

View solution in original post

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DoninGA
Level 15

I just purchased the turbo tax home & business 2020 version.I have qualified for the cares act 401k withdraw penalty free up to 100k.How do I enter qualification?

The IRS has a new Form 8915-E for COVID-19 related retirement account withdrawals.  This form has not been finalized by the IRS for filing with a 2020 federal tax return.  The IRS has not announced when this form will be available.  Once available it will be included in the TurboTax software.

We estimate the form may be available sometime in February.

View solution in original post

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