topic Re: CARES Act Withdrawal in Retirement tax questions

CARES Act Withdrawal

chicks445 — Tue, 26 Jan 2021 19:31:12 GMT

I am not seeing form 8915-E for use to offset the 10% penalty, or a choice to spread the tax to 3 years. When is this going to be updated in Turbo Tax? You can access the form on the IRS website, but it is nowhere in Turbo Tax. Please help!!

Re: CARES Act Withdrawal

DoninGA — Tue, 26 Jan 2021 19:37:30 GMT

Coronavirus-Related Distributions will be reported on the new IRS Form 8915-E, Qualified 2020 Disaster Retirement Plan Distributions and Repayments (Use for Coronavirus-Related Distributions).

The IRS has not yet finalized the Form 8915-E or the Form 8915-E instructions.

There is currently no date from the IRS for when this form will be available.

Please provide a link to the IRS.gov website which shows the Form 8915-E and the instruction being finalized for tax year 2020.

Re: CARES Act Withdrawal

chicks445 — Tue, 26 Jan 2021 19:54:01 GMT

Here is the link to the IRS form 8915-E. I do see that it does state that it is a draft. Do we know when it will be a final copy?

https://www.irs.gov/pub/irs-dft/f8915e--dft.pdf

Re: CARES Act Withdrawal

DoninGA — Tue, 26 Jan 2021 20:06:16 GMT

As previously stated - There is currently no date from the IRS for when this form will be available.