Any idea when Turbotax will update with the COVID 401k withdrawal exemption?

[Ialnyien]

Essentially as the title.  My wife was laid off, had to pay for childcare once she went back.  Took a small distribution (nowhere near the max!).

I'm trying to put together everything for filing, but there's no current option to avoid the 10% withdrawal penalty in the current version.

Getting frustrated, almost feel as though Turbotax is going to take advantage of the new filing start date to not release this stuff in a timely manner.

[DoninGA]

The IRS has a new Form 8915-E for COVID-19 related retirement account withdrawals.  This form has not been finalized by the IRS for filing with a 2020 federal tax return.  The IRS has not announced when this form will be available.  Once available it will be included in the TurboTax software.

We estimate the form may be available sometime in February.

[Opus 17]

The IRS is not even opening e-filing until February 12. They’ve already delayed this once, due to the backlog from the stimulus payments and a large number of last minute tax law changes.  TurboTax can’t offer a form that the IRS has not even officially produced yet.  This is one year especially when you should not be in a rush.

[80s_guy]

Any update from TT?

[Critter-3]

They are hoping for the 22nd  - 24th however it could be later.   The other 8915 forms a-d are not scheduled until 3/11.

[cgmaska]

I use TurboTax Deluxe Online and still do not see where its asking me if my 401k (1099-R) were Corona Virus related distributions.  Is this on the form(s) that are scheduled for 3/11 or are we still waiting for the form 8915-E update?

[DoninGA]

---

@cgmaska wrote:

I use TurboTax Deluxe Online and still do not see where its asking me if my 401k (1099-R) were Corona Virus related distributions.  Is this on the form(s) that are scheduled for 3/11 or are we still waiting for the form 8915-E update?

---

The Form 8915-E was made available in the TurboTax online editions on 02/25/2021.

If you are not seeing the Covid-19 questions after entering your Form 1099-R then delete the 1099-R and re-enter manually.