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When is the 401k section going to be updated to account for caresact/covid-19 withdrawls? Says I need to review this later, but when?

 
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3 Replies

When is the 401k section going to be updated to account for caresact/covid-19 withdrawls? Says I need to review this later, but when?

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.

dbcooper23
Returning Member

When is the 401k section going to be updated to account for caresact/covid-19 withdrawls? Says I need to review this later, but when?

Will it be included in this weeks program update?  

CatinaT1
Expert Alumni

When is the 401k section going to be updated to account for caresact/covid-19 withdrawls? Says I need to review this later, but when?

On February 11th, the IRS finalized the Form 8915-E for retirement plan distributions under the CARES act.  The form will be available on TurboTax for efile approximately February 25th. 

  

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

 

In the mean time, you can make sure you are eligible for the provision here - Coronavirus Relief

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