Cares Act Covid-19 distribution from 401k 2020 broken up over 3 years (2020, 2021, 2022) Did not receive a new 1099-R for 2021. Turbo tax doesn't ask for info for this?

[fanfare]

@Rennaegade 

dividing by 3.30 was the default and otherwise you had to specifically elect not to do that.

[paulocarlin]

Thanks for the proffered opportunity to sign up, but when I try, I get this:

"This XML file does not appear to have any style information associated with it. The document tree is shown below.

<qdbapi>

<action>API_AddRecord</action>

<errcode>22</errcode>

<errtext>Sign-in required</errtext>

<errdetail>The page you have requested can be viewed only by users who have signed in. Please sign in to proceed.</errdetail>

</qdbapi>"

I think I'm getting lazy relying on Turbo Tax every year... (and then the post was 'changed' when I tried posting this, telling me that 'Invalid HTML was found in the message body. The invalid HTML has been removed.' -- I just want to get my taxes done!!)

[paulocarlin]

By the way -- I DID sign in!

[Cynthiad66]

The form 8915-F is scheduled to be released March 31, 2022.  You can check at that time to prepare and e-file your return.  This form is needed to report the 2020 401K distribution over a 3 year period.  Hold on, it's coming!!!

[careeves2]

This is crazy! The IRS has released and has had it released. We have seen this date change twice and now the 31st. I avoided Turbo Tax for a few years and came back hoping it was better. I am seeing that is not the case. Those that are waiting can either wait or go somewhere else. 

[DoninGA]

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@careeves2 wrote:

This is crazy! The IRS has released and has had it released. We have seen this date change twice and now the 31st. I avoided Turbo Tax for a few years and came back hoping it was better. I am seeing that is not the case. Those that are waiting can either wait or go somewhere else. 

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The prior post indicating 03/31is incorrect.

Form 8915-F, Qualified Disaster Retirement Plan Distributions and Retirements is scheduled to be available in TurboTax on 03/24/2022

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

[heha028]

oh these idiots kept me waiting for the 24th and moved the goal posts again.  Happy we're going to town tomorrow, i'll bring my paperwork to someone else.  What horribles service by Inuit. 

[DoninGA]

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@heha028 wrote:

oh these idiots kept me waiting for the 24th and moved the goal posts again.  Happy we're going to town tomorrow, i'll bring my paperwork to someone else.  What horribles service by Inuit. 

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The prior post indicating 03/31 is incorrect.

Form 8915-F, Qualified Disaster Retirement Plan Distributions and Retirements is scheduled to be available in TurboTax on 03/24/2022

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

[esmango]

The form is available today but I am not sure it is functioning correctly. When I enter the information on the 401k withdrawal my refund amount does not go down. I spread the taxes over three years so I believe it should. Then when I continue with the return it asks if I took a disaster distribution in 2020 and when I click yes it tells me to visit the 1099_R section that I already filled out. 

It seems to me that it is not recognizing the information I type in and sends me on a loop. Anyone else having similar issues?

[kl904]

I am having the same issue. I am not seeing anywhere to enter the tax that I withheld either, so that I am not taxed the full amount for this 1/3.

[DoninGA]

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@kl904 wrote:

I am having the same issue. I am not seeing anywhere to enter the tax that I withheld either, so that I am not taxed the full amount for this 1/3.

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The federal taxes withheld on the 2020 distribution were all reported on the 2020 tax return as a tax payment.  The taxes withheld are NOT spread over three years. only the distribution can be spread over three years.

[kl904]

Ah okay, my taxes from 2020 do not reflect what I withheld anything, I must have missed entering that. This is not good.

[esmango]

So last year I paid all the taxes on the withdrawal but only claimed 1/3 the distribution resulting in a larger refund for overpayment. This year and next I will claim the other 1/3's and my refund will go down for underpayment. This sound correct?

[Benjo6685]

So if they applied all of the withheld tax in the first year, what's the point of distributing it over 3 years?  Seems to me like 1/3 of that withheld amount would be applied along side the 1/3 distribution split each year.

I also do not trust that this form is working properly right now.  Entered all of the info and my return amount did not change at all.

[PV31]

My turbotax still does not have that form, when I goto that section it asks if I received any retirement income for 2021.