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bkgant
New Member

I took out a covid 401 withdrawl in 2020. Filed last year and claimed 1/3rd lasy year. When i fill in my info on turbotax today it keeps showing its taxing me a 2/3rds?

 
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Cynthiad66
Expert Alumni

I took out a covid 401 withdrawl in 2020. Filed last year and claimed 1/3rd lasy year. When i fill in my info on turbotax today it keeps showing its taxing me a 2/3rds?

The form, 8915-F, needed to accurately reflect your withdrawal amount was released today.  It will take a few days for TurboTax to fully implement the form.  Please allow a few days then come back to prepare and file your return

 

Form 8915-F is used to report a disaster-related retirement distribution, and any repayments of those funds. It also allows you to spread the taxable portion of the distribution over three years, if needed, and reports prior-year distribution amounts to be taxed in 2021.

 

Keep in mind, it takes some time to incorporate state forms into TurboTax. While they may be available from your state on a given date, we need a few days to make the forms available for use in TurboTax.

 

@bkgant

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