When will the 8915E form will be ready on TurboTax for an early IRA withdrawal? It was related to COVID. I see Turbotax is not waiving the 10% early withdrawal penalty?

[huffman486]

The CARES act waived the 10% early withdrawal penalty in 2020, however TurboTax is not acknowledging this yet. Just looking for an ETA on when this will be added?

[DoninGA]

The IRS has a new Form 8915-E for COVID-19 related retirement account withdrawals.  This form has not been finalized by the IRS for filing with a 2020 federal tax return.  The IRS has not announced when this form will be available.  Once available it will be included in the TurboTax software.

We estimate the form may be available sometime in February.

[xmen9pc]

Any update on this? I just took a first run at my 2020 taxes yesterday and the program did not ask any questions on my 1099-R that are related to COVID-19 or the CARES Act. To try and get to what I believe the outcome will be I lowered the taxable amount of my distribution to 1/3rd of the total but form 8915-E is not included in my return yet. I am running TurboTax Deluxe download for Windows.

Any news on this?

[CatinaT1]

You are correct that you will report this on Form 8915-E, for retirement plan distributions under the CARES act .  The IRS has not yet finalized Form 8915-E, so this form cannot be included in the TurboTax program.  You will not be able to proceed until the form is available.

The IRS has not communicated when the form will be finalized for inclusion on the 2020 federal tax return.

You can watch this link for the form availability.  Currently, the form is not listed here since there is no estimated date.  Once there is, you will find the form listed with the date available.  

IRS forms availability table for TurboTax individual (personal) tax products

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

[Opus 17]

Turbotax now indicates February 24, and that the form will be e-filable.

https://ttlc.intuit.com/community/tax-topics/help/why-am-i-getting-getting-a-10-penalty-on-my-1099-r...

However, be aware that updates are sometimes applied in the afternoon or evening rather than the morning. 

[asmith92]

The 8915E form is finalized and available on the irs.gov website.  When will it be added to Turbotax???

[macuser_22]

Answered in the post above yours.

[usmc3381]

It is now March 16. I just updated again this morning and still no 8915E-T and it only states ready soon? Why is this so hard?

[DianeW777]

Great news! The IRS created new Form 8915-F to replace Form 8915-E.  This form will be used for anyone who chose to take a distribution from their retirement and spread the taxable amount over three years.

It was recently (approximately 15 days) taken out of draft and finalized.  TurboTax has an available date of March 24, 2022.  Continue to check the availability date by using the link provided.

• When will federal forms be available?
• What is Form 8915-F?

When entering your 1099-R in TurboTax CD/Download, you’ll be asked Was this withdraw due to Covid-19? On the next screen, it should ask you Did you test positive for the coronavirus in 2020? However, some users are reporting they aren’t being asked that second question.

We’re working to resolve this issue. If you’d like to receive progress status updates, sign up here.

@usmc3381