You'll need to sign in or create an account to connect with an expert.
Form 8915 -E, that reports the Coronavirus-related relief measures for retirement plan distributions, is not yet finalized by the IRS. TurboTax will update this section after the IRS releases the final version of Form 8915-E and then you can finish your distribution information.
Please follow these steps to enter your 1099-R:
Those who qualify as individuals directly impacted by the pandemic will be able to withdraw up to $100k from their retirement accounts without facing the 10% early withdrawal penalty.
You qualify if:
You can choose to have the distribution taxed over 2020, 2021, and 2022 instead of only in 2020. You’ll have three years to pay back the funds you withdrew, without the amount impacting that year’s cap on contributions. If you pay back the amount within that time, you’ll be able to claim a refund on those taxes paid when you file an amended tax return. Please see IRS Coronavirus-related relief for retirement plans and IRAs for more details.
The question nobody is answering is....Are we just suppose to sit around and wait to file our taxes until the 8915E form is available? It would be great if TurboTax would address this and let those of us in this situation know how to proceed. Please don’t copy and paste the qualifications for Covid distribution or the information about how the IRS has not finalized the form yet. Thanks!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Alar
New Member
PJ58
Returning Member
france1980
Level 2
TaxMD
Level 1
bcvandaele
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.