The IRS is drafting new 1099R forms. Then the software has to be programmed for them, and the IRS has to test and approve of the software. It is a complex process because of the all the CARES changes. It could even be a couple of months. Meanwhile if you are trying to plan, if you have desktop for 2019 use the what if feature--but it will not have that CARES stuff.
Click on the REVIEW tab to see what form(s) you are waiting for and when it is estimated to be ready (when operational) ...
I have experienced the same problem, receiving a message that "The Retirement Area Will be Ready Soon". (As recently as this morning, with version 2020.r09.025, update installed 12/19). A colleague has the same version installed and is able to create/ enter data for 1099-R. So, it confounds me, why two supposedly identical software builds are acting differently. (Note: we are both running on Mac computers with Big Sur operating sys
Thanks so much for the quick reply. Using forms input worked perfectly and answered my question. I think the flag that popped up advising me to work on other parts of my return ("congratulations ...you're doing great...now go work on something else....") was not very helpful. It implied that I had no recourse but to wait for some unidentified time for IRS to issue some other documents. At any rate, forms input was perfect, especially since I imported 2019 data into my return, which established the needed structure.
P.S. You were right, that is exactly what he was doing.
Retirement income area not ready here it's 2/12/2021 and I have had my 1099-R's for two weeks and I can't complete my taxes waiting for update. Time to find new software after so many years.
No software will have Form 8915-E yet that is used to report retirement plan distributions under the CARES act . The IRS has not yet finalized Form 8915-E, so this form cannot be included in the TurboTax program. You will not be able to proceed until the form is available.
The IRS has not communicated when the form will be finalized for inclusion on the 2020 federal tax return.
You can watch this link for the form availability. Currently, the form is not listed here since there is no estimated date. Once there is, you will find the form listed with the date available.
Please sign-up here and we will email you once the form is live.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Turbotax now indicates February 24, and that the form will be e-filable. The FAQ has been updated.
However, be aware that updates are sometimes applied in the afternoon or evening rather than the morning.