401K Cares Act

Forum|Forum|5 years ago
January 25, 2021
1 reply
3 views

Hello,

When filing on turbotax, I do not see the option where you can choose that this was a Cares act distribution. Any idea where I can find this option? It keeps calculating the extra 10% penalty. The distribution was less the 100K. Also, does it give you the option to spread out the income over three years?

TurboTax Deluxe Online

Best answer by MinhT1

The Coronavirus-related relief measures for retirement plan distributions have to be reported on form 8915-E which has not yet been finalized by the IRS. No date has been given by the IRS for the finalization of this document.

TurboTax will update this section after the IRS releases the final version of form 8915-E and its instructions. Please revisit this section at a later date.

MinhT1Answer

Level 15

TurboTax will update this section after the IRS releases the final version of form 8915-E and its instructions. Please revisit this section at a later date.

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