"Were still working on updates related to retirement distributions that qualify for covid relief". Any idea when this will be updated? I need to file!

[amykins2007]

I cannot file because my pension deduction worksheet needs "fixed" it tell me to keep working on my return and the message will be removed when its ready

[RayW7]

Form 8915-E is now available, you should be able to access it after you do an update in TurboTax.

Use Form 8915-E if you were impacted by a. qualified 2020 disaster (including the. coronavirus) and you received a distribution.

Please follow these steps to enter your 1099-R:

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” and you should see the “Your 1099-R Entries” screen
4. Click "edit" and 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)" (TurboTax will walk you through questions once this section is ready)

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, your spouse, or your dependent are diagnosed with COVID-19
• You experience adverse financial consequences as a result of being quarantined, furloughed, or laid off or having work hours reduced because of COVID-19
• You’re unable to work due to child care closure or hour reduction because of Covid-19
• You experience adverse financial consequences as a result of closing or reducing hours of a business that you own or operate due to SARS-CoV-2 or COVID-19.

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.

[dpsmet]

Hi

I followed your instructions step by step but hit a wall at step 4. I select edit, but never see the "tell us if any of these uncommon situations apply" screen. I am also obviously not able to get to step 5. 

Someone please help. 

[SamS1]

Delete the 1099R you are working on and re-enter.   After you have logged in and are in your return in TurboTax Online:

• Go to Search at the top of the screen.
• Enter Form 1099-R in the search box. 
• You will see a Jump To function that will take you to the 1099-R input screens. 
• Delete the 1099R in question by clicking on the trash can next to the form
• Then add a new 1099R and manually enter your 1099R.

At the financial services screens, click "Change how I enter my form" then "Type it myself"

After entering the 1099R data and "Continue" you will see the screen to select the Covid-19 distribution option.  Review your coding in box 7 of the1099R and TurboTax.  It should be a 1,2, or 7 if its a traditional IRA.  If its a Roth IRA distribution, temporarily change the coding.  If its B1, then remove the B and continue.  Once completed, edit the 1099R back to its original coding.

[dpsmet]

Thank you for the reply Sam. I tried you suggestion again and still no luck for my state return. I was able to submit my federal tax return, but not my NY state. 

This is the error message I get when I try submitting my state return. 

Thank you in advance for your help.

[SamS1]

There seems to be some problems with the NYS filings and retirement plan distributions due to the pandemic.  Its getting worked on.  Keep watching the community for updates and If I hear anything, I will let you know.  

The 8915-E is being used for penalty relief from early retirement plan distributions and include the option to spread the distribution income over 3 years.  This may be a good option if the distribution is pushing you into a higher marginal tax bracket.  You may end up paying less tax if you spread the distribution over the 3 years