Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
satch04
New Member

I took money out of my retirement account due to reduced income. I checked the box for disaster relief in an effort to reduce tax liability. When will it be updated?

It keeps telling me that I need to revisit this area.
3 Replies
ColeenD3
Expert Alumni

I took money out of my retirement account due to reduced income. I checked the box for disaster relief in an effort to reduce tax liability. When will it be updated?

This is the latest information. We are waiting on the IRS:

 

At this point and time the Form 8915-E (Qualified 2020 Disaster Retirement

Plan Distributions and Repayments (Use for Coronavirus-Related Distributions)) is not finalized. We currently do not have an estimated date when the form is ready.

 

Please sign-up here and we will email you once the form is live.

 

 

satch04
New Member

I took money out of my retirement account due to reduced income. I checked the box for disaster relief in an effort to reduce tax liability. When will it be updated?

Thank you for the response. So should I just wait to file then?

PattiF
Employee Tax Expert

I took money out of my retirement account due to reduced income. I checked the box for disaster relief in an effort to reduce tax liability. When will it be updated?

Yes, you should just wait until the Form 8915-E is complete before you file your taxes. With the changes from the CARES Act, the IRS is taking a little longer than usual to finalize the forms.

 

Please sign-up here if you have not already done so, and we will email you once the form is live.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.6m
Discussions

Manage cookies
v