topic As of 03/01/2021, is Turbo Tax still working on updates for COVID Distributions? I filled out information and it won't let me efile and keeps saying i need to fix things? in Get your taxes done using TurboTax

As of 03/01/2021, is Turbo Tax still working on updates for COVID Distributions? I filled out information and it won't let me efile and keeps saying i need to fix things?

RMACHERONE99 — Mon, 01 Mar 2021 21:25:44 GMT

I keep getting a message when I go to Efile " We're still working on updates related to Retirement Distributions that Qualify for disaster or covid relief........??

Re: As of 03/01/2021, is Turbo Tax still working on updates for COVID Distributions? I filled out...

Cass0317 — Sat, 06 Mar 2021 03:27:17 GMT

Form 8915-E is now available, you should be able to access it after you do an update in TurboTax.

Use Form 8915-E if you were impacted by a. qualified 2020 disaster (including the. coronavirus) and you received a distribution.

Please follow these steps to enter your 1099-R:

Login to your TurboTax Account
Click on the Search box on the top and type “1099-R”
Click on “Jump to 1099-R” and you should see the “Your 1099-R Entries” screen
Click "edit" and continue until "Tell us if any of these uncommon situations apply" screen
Select "I took out this money because of a qualified disaster (includes COVID-19)" (TurboTax will walk you through questions once this section is ready)

Those who qualify as individuals directly impacted by the pandemic will be able to withdraw up to $100k from their retirement accounts without facing the 10% early withdrawal penalty.

You qualify if:

You, your spouse, or your dependent are diagnosed with COVID-19
You experience adverse financial consequences as a result of being quarantined, furloughed, or laid off or having work hours reduced because of COVID-19
You’re unable to work due to child care closure or hour reduction because of Covid-19
You experience adverse financial consequences as a result of closing or reducing hours of a business that you own or operate due to SARS-CoV-2 or COVID-19.

You can choose to have the distribution taxed over 2020, 2021, and 2022 instead of only in 2020. You’ll have three years to pay back the funds you withdrew, without the amount impacting that year’s cap on contributions. If you pay back the amount within that time, you’ll be able to claim a refund on those taxes paid when you file an amended tax return. Please see IRS Coronavirus-related relief for retirement plans and IRAs for more details.

"Employee Tax Expert RayW7"

Re: As of 03/01/2021, is Turbo Tax still working on updates for COVID Distributions? I filled out...

bohdanwj — Wed, 10 Mar 2021 00:59:38 GMT

Did all the above, still get this (bleeping ) messgage

Re: As of 03/01/2021, is Turbo Tax still working on updates for COVID Distributions? I filled out...

TiffanyL — Wed, 10 Mar 2021 01:25:04 GMT

Form 8915-E (Qualified 2020 Disaster Retirement Plan Distributions and Repayments (Use for Coronavirus-Related Distributions)) has been finalized and released. For more information please see the FAQ link provided below:

Why am I getting a 10% penalty on my 1099-R when I withdrew funds during COVID? (Form 8915-E)