I took a coronavirus distribution...

[Yiverson]

Yes I know. please read the previous posts.

[JamesG1]

When you claim a qualified COVID-19 disaster during the interview for your 1099-R, TurboTax states:  

• You will need to revisit this area.  The IRS instructions related to disaster distributions were not ready in time for us to include them in this release.  Please revisit this area later. 

 This TurboTax Help allows you to sign up for notifications for when the IRS form 8915-E is operational.

Forms availability can be found here.

[Yiverson]

I see that 8915-E (https://www.irs.gov/pub/irs-pdf/f8915e.pdf) has been released from the IRS, when is Turbo Tax going top have this form ready so we can e-file?

[DianeW777]

It is being prepared for release. Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions, will be ready for e-file starting February 25th.  It was recently moved out of the draft form by the IRS.

• For more information about this form use this link: Qualified 2020 Retirement Distributions due to COVID

• Sign up for email notification for Form 8915-E as soon as it's available by clicking this link.

Follow the steps below to make sure TurboTax knows you are allowed a penalty waiver.

1. Login to your TurboTax Account 
2. Click on the Search box on the top and type “1099-R”
3. Click on “Jump to 1099-R” you should see the “Your 1099-R Entries” screen and will click "edit"
4. Continue until "Tell us if any of these uncommon situations apply" screen
5. Select "I took out this money because of a qualified disaster (includes COVID-19)"
6. Answer the any question.

[FZ2671]

I received two 1099-R forms from my 401(k) company for the Covid withdrawal totaling $95,000.  One 1099-R was for the regular 401(k) portion of the withdrawal (about $92,000) and the other 1099-R was for the Roth portion of the withdrawal (about $3000).  For some reason, I am able to claim the regular portion as a Covid withdrawal but I cannot claim the Roth portion.  It is saying there is the 10% early withdrawal penalty for the Roth portion.  Turbotax is not asking me the same questions for each 1099-R when I "edit" them.

[Irene2805]

TurboTax Online has been updated to include Form 8915-E. If you are using TurboTax CD/Download, the update should be available later today (2/25/2021).  

If you have a Code J (Early distribution from a Roth IRA in Box 7 of the 1099-R from your Roth distribution, after the 1099-R entry screen, you should seen screens pertaining to a COVID-19 or a Qualified Disaster Distribution.  Enter the requested information to see if you're exempt from additional taxes on the distribution.  

If you have a box 7 entry other than J, please respond back to this thread with the information.

In TurboTax CD/Download you will be prompted to download any updates available when you open the program.  You can also update the program while you have it open by following these steps:

1. Click on the Online link in the black bar at the top of the page.
2. Click on Check for Updates.
3. TurboTax will download and install any updates available.  If there aren't any updates, you will receive the message "Your software is up to date."

@FZ2671

[FZ2671]

I had a 1 and a B in box 7 for the and TurboTax did not ask me the questions regarding it being a Covid related distribution.  The 1099-R was from T Rowe Price and it was for a valid Covid withdrawal. 

The other 1099-R from T Rowe Price for the larger amount (non Roth) had a 1 in box 7 went through fine and I was asked the Covid related questions.

The code J you refer to is for an IRA.  My 401(k) has a Roth portion.  What is needed for a Roth withdrawal from a 401(k) for it to be seen as Covid related?

[DianeW777]

Try using the steps below to check your entry for the one that is not being recognized.  The form was released today so you may need to give it a little time.

• For more information about this form use this link: Qualified 2020 Retirement Distributions due to COVID

  • The 10% additional tax on early distributions does not apply to any coronavirus-related distribution. Typically, distributions received from an IRA or retirement plan before reaching age 59 ½ are subject to an additional 10-percent tax, unless an exception applies.

Steps to review in your tax return for this entry:

1. Login to your TurboTax Account 
2. Click on the Search box on the top and type “1099-R”
3. Click on “Jump to 1099-R” you should see the “Your 1099-R Entries” screen and will click "edit"
4. Continue until "Tell us if any of these uncommon situations apply" screen
5. Select "I took out this money because of a qualified disaster (includes COVID-19)"
6. Answer the any question.

[FZ2671]

"I took out this money because of a qualified disaster (includes COVID-19)"

The above statement does not appear but the other ones you can choose do appear.  I have even deleted the 1099-R in question and put the info in again and it does not ask anything about COVID. 

[SamS1]

The coding might be the problem.  Code 1 should not be use in connection to a Roth distribution.  Check with you plan administrator on the coding.  My guess it should have been a B and J.

[FZ2671]

B is for Roth

J is for Roth IRA

my 1099-R (non Roth) had a 1 in box 7 and it went thru fine so you might be right

[FZ2671]

I checked the instructions for form 1099-R and a 1 and B can be used together. 

[takeitez36]

I am still unable to e-file but see that other tax software services are able to.  Very frustrating.  Can we print and snail mail or are we supposed to just keep believing the everchanging estimated date for form availability?

[DoninGA]

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@takeitez36 wrote:

I am still unable to e-file but see that other tax software services are able to.  Very frustrating.  Can we print and snail mail or are we supposed to just keep believing the everchanging estimated date for form availability?

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All IRS federal tax forms are available except Forms 8915 A, B, C and D.  What forms is your program telling you are not available?

[Nth]

When will update be online for filing my 2021 . I’d like to pay all taxes in full this year