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Ms_I
Level 2

Why is the system not recognizing COVID distributions from 401k plans? I should not be paying a 10% penalty.

 
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1 Reply
rjs
Level 15
Level 15

Why is the system not recognizing COVID distributions from 401k plans? I should not be paying a 10% penalty.

The exception to the 10% penalty for a coronavirus-related distribution requires Form 8915-E. But the IRS has not yet published Form 8915-E. I'm sure that TurboTax will incorporate the form as quickly as they can after the IRS publishes the form and its instructions.

 

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