Cares Act Distribution, 8915-E

Forum|Forum|5 years ago
March 6, 2021
1 reply
19 views

Hello,

How do I get to the form in which we spread the CARES Act distribution over 3 years? Is that ready yet? Is it form 8915-E? And when I type in the form in the search bar it takes me to Rental Properties?

Thank you,

Teresa M.

Best answer by WendyN2

Yes, per @DianeW777 's instructions, you are actually "informing" the system during the walk-through she laid out for you. This will le the system know that the withdrawal was for these special circumstances. This information then gets reported on the 8915-E.

DianeW777

Level 15

Form 8915-E will allow you to pay tax on one third of the distribution over the next three tax years. You can use the steps below to make sure you have chosen the right steps to complete it.

Steps to review in your tax return for this entry:

Login to your TurboTax Account
Click on the Search box on the top and type “1099-R”
Click on “Jump to 1099-R” you should see the “Your 1099-R Entries” screen and will click "edit"
Continue until "Tell us if any of these uncommon situations apply" screen
Select "I took out this money because of a qualified disaster (includes COVID-19)"
Answer any remaining questions.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

teresamorgan0301969Author

Level 5

Hello, @DianeW777

I thought the 8915-E form (If you were impacted by the coronavirus and you made withdrawals from your retirement plan in 2020) but I will be searching for the 1099-R ( to report the distribution of retirement benefits such as pensions and annuities). I think I understand but not sure? LOL

Thank you,

Teresa M.