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abdmgra
New Member

I’m trying to file my taxes and withdrew from 401 K because of a covid hardship Because of the cares act we do not have to pay the 10%early withdrawal but TurboTax is charging us the 10% ?? We

We are not 591/2
2 Replies
DaveF1006
Employee Tax Expert

I’m trying to file my taxes and withdrew from 401 K because of a covid hardship Because of the cares act we do not have to pay the 10%early withdrawal but TurboTax is charging us the 10% ?? We

Yes, this is a temporary issue because the 8915 form has not been released by the IRS until mid-February. I would strongly suggest waiting until the release date and then file your return once the 8915 form is finalized from the IRS. Please constantly check this link to find out when the form will be available.

 

[Edited 01-31-2021|06:29 PST]

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abdmgra
New Member

I’m trying to file my taxes and withdrew from 401 K because of a covid hardship Because of the cares act we do not have to pay the 10%early withdrawal but TurboTax is charging us the 10% ?? We

Thank You

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