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