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Not applicable
posted Jan 19, 2021 1:13:06 PM

When will COVID-19 information be available for early 401k withdrawals?

Says; You'll need to revisit this area. The IRS instructions related to disaster distributions weren't ready in time for us to include them in this release. Please revisit this area later.

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6 Replies
Level 2
Jan 19, 2021 1:19:49 PM

came here to ask this same question.

Expert Alumni
Jan 20, 2021 10:04:24 AM

 

The IRS will be releasing Form 8915-E to use with the 1099-R. Here is more information:

CARES Act and 1099-R Withdrawal.

 

The software has not been updated yet because the form has not been finalized by the IRS. Once the software has been updated, you will be prompted through the form with instructions on how to enter the information.

 

The IRS has not provided a release date for the form at this time. Use this link IRS Form Availability to watch for when the 8915-E form will be available in the software once the IRS completes it.

 

Level 2
Jan 20, 2021 10:34:10 AM

"The IRS has not provided a release date for the form at this time. Use this link IRS Form Availability to watch for when the 8915-E form will be available in the software once the IRS completes it."

This link is dead.

Level 15
Jan 20, 2021 10:51:03 AM


@vulcanis1776 wrote:

"The IRS has not provided a release date for the form at this time. Use this link IRS Form Availability to watch for when the 8915-E form will be available in the software once the IRS completes it."

This link is dead.


Here's the FAQ page.

https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-personal-tax-products/00/26224

 

Form 8915-E isn't even listed yet, I'm not sure what that means.

Level 3
Jan 21, 2021 2:05:01 PM

Per the IRS website, both the Instructions and Form for Form 8915-E currently do not have an updated release date.

The draft form was released 11/9/2020.  Please see the Draft Instructions and Form below.

 

Form Draft Insturctions:  https://www.irs.gov/pub/irs-dft/f8915e--dft.pdf

Draft Form 8915: https://www.irs.gov/pub/irs-dft/f8915e--dft.pdf

 

Expert Alumni
Jan 21, 2021 8:01:56 PM

As of today, the IRS has not yet finalized the Form 8915-E for retirement plan distributions under the CARES act, this form cannot be incorporated in the TurboTax program. At this point, the IRS has not corresponded with us when the form will be finalized and available.  We estimate it will be sometime in February 2021 before the form is available.

 

@musicfanatic815