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kkar1978
Level 1

Why isn't TurboTax recognizing a covid related 403b early disbursement?

 
7 Replies
CatinaT1
Expert Alumni

Why isn't TurboTax recognizing a covid related 403b early disbursement?

You will report this on a Form 8915-E.  The IRS has not yet finalized the Form 8915-E for retirement plan distributions under the CARES act.  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.

 

We estimate it will be sometime in February 2021 before the form is available.  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.  

 

IRS forms availability table for TurboTax individual (personal) tax products

 

Additionally, the IRS will not start processing returns until February 12, so waiting for this form is not slowing down the processing of your return.

 

 

Please sign-up here and we will email you once the form is live.

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kkar1978
Level 1

Why isn't TurboTax recognizing a covid related 403b early disbursement?

So I now see the form listed as "unsupported". What do I do next?

CatinaT1
Expert Alumni

Why isn't TurboTax recognizing a covid related 403b early disbursement?

Where are you seeing it listed as unsupported?  It may be because the IRS hasn't finalized the form yet.

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kkar1978
Level 1

Why isn't TurboTax recognizing a covid related 403b early disbursement?

Actually, after double checking, it is the 8915-A that reads unsupported. The 8925-E isn't even listed yet. Once it's finalized will it be supported in turbotax e-file? We are moving in March and I wanted to file and hopefully get my return for expenses, hence why I might seem a little antsy.

CatinaT1
Expert Alumni

Why isn't TurboTax recognizing a covid related 403b early disbursement?

We won't know until the IRS finalized the form and guidance.  

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kkar1978
Level 1

Why isn't TurboTax recognizing a covid related 403b early disbursement?

So I received a email saying that the 8915-E will be ready for e-file today, but when I go into the turbotax app to work on the early disbursement the options haven't changed and instill owe the extra 10%. Is the form not ready yet, or am I doing something wrong?

DoninGA
Level 15

Why isn't TurboTax recognizing a covid related 403b early disbursement?


@kkar1978 wrote:

So I received a email saying that the 8915-E will be ready for e-file today, but when I go into the turbotax app to work on the early disbursement the options haven't changed and instill owe the extra 10%. Is the form not ready yet, or am I doing something wrong?


Form 8915-E, Qualified 2020 Disaster Retirement Plan Distributions and Repayments is scheduled to be available in TurboTax on 02/25/2021

Go to this website for IRS forms availability in TurboTax - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

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