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Where do I enter that my 401 K withdrawal is due to a Covid related incident so that I do not get the penalty tax?

 
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DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Where do I enter that my 401 K withdrawal is due to a Covid related incident so that I do not get the penalty tax?

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.

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3 Replies
DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Where do I enter that my 401 K withdrawal is due to a Covid related incident so that I do not get the penalty tax?

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.

Where do I enter that my 401 K withdrawal is due to a Covid related incident so that I do not get the penalty tax?

If Im efiling using TurboTax how will I attached this document?

CatinaT1
Expert Alumni

Where do I enter that my 401 K withdrawal is due to a Covid related incident so that I do not get the penalty tax?

The 8915E will be part of your return.

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