topic How do I file the cares act 401k withdrawals for the 2nd year ? in Get your taxes done using TurboTax

How do I file the cares act 401k withdrawals for the 2nd year ?

Hunter2011 — Mon, 09 Mar 2026 04:27:46 GMT

I filed my 2020 and did it over a three-year period now how do I report it on 2021 taxes

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

Ookiebear — Sun, 30 Jan 2022 07:14:36 GMT

You have to wait for form 8915-F to be completed and released by the IRS. Last year we used form 8915-E. It has since been updated to a permanent form that the IRS has not completed as of yet. There is no definite date but several reports from different tax preparers saying Feb 1st, Feb11, March sometime, possibly May and we will need to file an extension. The IRS also completes the forms that are most used first so this new 8915 form is on the bottom of the list since it is not used often. When it is released Turbotax will then need to update it to their software so that might take a little bit of time as well.

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

kevinslattery231 — Thu, 03 Feb 2022 23:19:02 GMT

The IRS website shows a Form 8915-F and it isn't labelled draft so doesn't that mean its is an offical form?

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

JulieS — Fri, 04 Feb 2022 00:59:43 GMT

The IRS has removed draft from their 8915-F as of today, but the instructions are still in draft format, so it will be a little while yet.

Click here to see.

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

Joyzoz — Mon, 07 Feb 2022 10:24:26 GMT

There doesn't seem to be any place to pay taxes on year 2. This is pure insanity. They spit it into 3 years and with no new 1099r turbo tax has no line to report it. Their program is bad this year.

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

DianeW777 — Mon, 07 Feb 2022 13:23:44 GMT

As noted below, the form necessary to complete this step with your tax return, the IRS is not yet ready. To record one third of a distribution you were allowed to take without penalty due to COVID, you can use the steps below.

Sign into your TurboTax account > Select Wages and Income > Scroll to IRA, 401(k), Pension Plan Withdrawals (1099-R) > Edit/Add
Continue through Form 1099-R entry if applicable and select I took out this money due to a qualified disaster
Continue to enter the requested information
1. Form 8915-F is used to report a disaster-related retirement distribution, and any repayments of those funds. It also allows you to spread the taxable portion of the distribution over three years, if needed and report prior year distribution amounts which are to be taxed in 2021.
2. We'll complete and include Form 8915-F with your return if you qualify. Just enter your Form 1099-R and answer a few questions to determine your eligibility.

NOTE: This Form 8915-F is still in IRS draft form. Continue to check the federal forms availability for a date of release.

What is Form 8915-F?

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

3905neal — Thu, 10 Feb 2022 23:30:29 GMT

When I search the official IRS website - it doesn't even list a 8915F as a pending form. Any updates?

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

DoninGA — Thu, 10 Feb 2022 23:30:44 GMT

@3905neal wrote:

When I search the official IRS website - it doesn't even list a 8915R as a pending form. Any updates?

It is a Form 8915-F and it is not yet available in TurboTax

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

doramlm6 — Fri, 11 Feb 2022 02:03:56 GMT

I keep waiting to see if TurboTax has any new update but they don't!

I've went to the IRS website and they no longer have the draft formate, its seems it ready to be loaded tax preparation software . Now, the real question is?????? When will the form be loaded in the system...turbotax?? It's been two years get this form ready to go. SMH

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

BillVendetta — Thu, 17 Feb 2022 18:24:17 GMT

End of March, fabulous.

Very prompt.

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

KingBeezee — Fri, 11 Mar 2022 22:28:07 GMT

This is sad. TurboTax should be able to expedite the software update that is needed. We shouldn't have to wait till the end of March to file our taxes if we had a 2020 Retirement withdrawal.

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

DoninGA — Fri, 11 Mar 2022 22:28:45 GMT

@KingBeezee wrote:

This is sad. TurboTax should be be able to expedite the software update that is needed. We shouldn't have to wait till the end of March to file our taxes if we had a 2010 Retirement withdrawal.

The form has been moved up a week.

Form 8915-F, Qualified Disaster Retirement Plan Distributions and Retirements is schedule to be available in TurboTax on 03/24/2022

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

Constantine1 — Sat, 12 Mar 2022 23:33:25 GMT

don't use the excuse it isnt used offen. Because of the cares act it will be used a lot by alot of people who had to draw out of their 401K just to make ends meet. There is no excuse that Turbo Tax can't update their forms now. It is needed by many.n ubderstand the IRS has approved the changes Turbo wants to make, its turbo Tax dragging there feet.

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

Alexisgirly — Thu, 24 Mar 2022 17:49:39 GMT

I was told 3/24 too but a’las it is not there. I’m glad. I found this thread though!

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

DoninGA — Thu, 24 Mar 2022 17:54:42 GMT

@Alexisgirly wrote:

I was told 3/24 too but a’las it is not there. I’m glad. I found this thread though!

The TurboTax online editions were updated for the Form 8915-F during the evening of 03/23

The TurboTax desktop CD/Download editions have a software update on 03/24 which includes the Form 8915-F

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

Vipermopar — Thu, 24 Mar 2022 20:57:34 GMT

Alright, I was able to go in to amend the federal to add this. You have to look at 8915E form from 2021 tax filing for #s. BUT.....after that it asks which disaster affected you in 2020? There is no coronavirus related disaster listed. Everything but that is listed. And theres no way to type something in instead.

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

Vipermopar — Thu, 24 Mar 2022 21:02:39 GMT

Ok nevermind. TT is still messed up with this. It goes into the review & still flags it. When you hit "fix" it gives the same message of worksheets not available!!! I'm so sick of this! Theyve had a year! They knew since last year when they gave the option of 3 yr plit, this needed to be worked in.

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

Ash0415 — Fri, 25 Mar 2022 00:27:48 GMT

Has anyone been able to file their second year? We have gotten through that we at least took out a withdrawal but then keeps telling us to go back to then retirement, plans and social security. We will not enter anything on the 1099R spot since we did not receive a new one this year correct? We are so confused

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

fanfare — Fri, 25 Mar 2022 01:07:55 GMT

there are hundreds of posts on other threads.

search the forum.

Re: How do I file the cares act 401k withdrawals for the 2nd year ?

kevinslattery231 — Fri, 25 Mar 2022 02:11:29 GMT

When I download the latest update it worked and gave the exact answer I was expecting.