2039764
When is this form going to be available?? It's MARCH?
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Please be aware that the federal form 8915-E is available for COVID related distributions and ready in TurboTax. Please make sure you updated the software. Please see How do I update my TurboTax CD/Download software program?.
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.
If this does not help then please comment what code is in box 7 on your 1099-R. Box 1 and box 2?
I cannot file my state return for New York because the e-form is still not available. Box 7 is marked "2". Box 1 and 2 are my withdrawal amount.
I'm having the same problem here in NY. The above info doesn't help us. Is there a solution for us here in NY?
TurboTax is working hard to incorporate this new form into all the states in TurboTax. Please see Why am I getting a “Check this Entry” message blocking me from filing my State return? for the latest updates on the issue.
Please be aware, New York State follows the federal treatment in regards to the COVID retirement distribution. The income will be included in New York adjusted gross income in the same year it is included in federal adjusted gross income. (New York State tax implications of the federal CARES Act)
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