Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
shafii_14
New Member

When will I be able to report my COVID-19 qualified disaster disbursement from my retirement account? TurboTax doesn't appear to include it in the current release.

 
3 Replies
pattif12
Expert Alumni

When will I be able to report my COVID-19 qualified disaster disbursement from my retirement account? TurboTax doesn't appear to include it in the current release.

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.

TheNickGreenway
New Member

When will I be able to report my COVID-19 qualified disaster disbursement from my retirement account? TurboTax doesn't appear to include it in the current release.

It looks like the IRS released the form today. Do you know when it will be available in the software?

AmyC
Expert Alumni

When will I be able to report my COVID-19 qualified disaster disbursement from my retirement account? TurboTax doesn't appear to include it in the current release.

Once the IRS releases a final version, it is incorporated quickly.  Prior to the IRS release, we were told will be e-fileable starting 2/24.

 

Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions.

 

The IRS is updating form 5329’s instructions to make it clear that COVID related exceptions cannot use 5329 and should use the new 8915-E.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic AdsDynamic Ads
Privacy Settings
v