IRA distribution because of COVID-19. Where is the checkbox?

[jt-65]

There is a checkbox denoting that my IRA withdrawals are because of COVID-19. I found it once and was told to come back because the information hadn't been added to TurboTax yet.  Now I can't find the checkbox.

Where is it?

[CatinaT1]

I am not aware of any checkbox.  The form needed to report this is Form 8915-E.  The IRS has not yet finalized the Form 8915-E for retirement plan distributions under the CARES act.  So this form cannot be included in the TurboTax program.

The IRS has not communicated when the form will be finalized for inclusion on the 2020 federal tax return.

We estimate it will be sometime in February 2021 before the form is available.  You can watch this link for the form availability.  Currently, the form is not listed here since there is no estimated date.  Once there is, you will find the form listed with the date available.  

IRS forms availability table for TurboTax individual (personal) tax products

[jt-65]

There was a screen with a number of checkboxes, the top one was to indicate that I took money from my IRA because of COVID-19.  I swear it was under Deductions & Credits.  When I checked that box, I received a message that "the IRS instructions related to disaster distributions weren’t ready in time for us to include them in this release" 

I guess another way of asking is, How do I tell TurboTax my IRA withdrawals are because of COVID-19?

[CatinaT1]

You will need to wait until the form is available.  Until then, you can not proceed.  Once the IRS finalizes the form and TurboTax updates the program, TurboTax will walk you through the steps to fill out Form 8915-E.  

Additionally, there may have been programing changes and the checkboxes are no longer available until the form is finalized.

The IRS will not start processing returns until February 12, so waiting for this form is not slowing down the processing of your return.

[montylee]

What about the desktop version? Will it be updated with the form when it becomes final?

[PattiF]

TurboTax Desktop will be updated when the forms are available. Be sure to update the software when an update is shown on opening the program.

[SFB2]

Will it automatically update using Turbo Tax online

[MaryK4]

Yes, it will automatically update so you will be able to go to the 1099-R entry and edit.  I just took this screenshot so it has not been updated yet.  

Certain disaster distributions may be eligible for special tax treatment. 

If qualified, the distributions will not be subject to early withdrawal penalties and the tax on the distributions can be spread over three years. 

@SFB2

[montylee]

I don't see it on the Mac desktop version (Deluxe). I just entered the 1099R and I never got asked that question.

[CatinaT1]

You will not see this option until after February 24th.  This will be reported on a Form 8915-E.  The form is estimated to be available within TurboTax on February 24.  

In the mean time, you can check here to be sure you qualify:  Coronavirus Relief 

[Mogajdys1]

Can I complete Form 8915-E after I file my taxes with Turbotax, or do I have to wait?

[FangxiaL]

You need to wait for another 3 weeks before Form 8915-F (replacing Form 8915-E in 2021) becomes e-file ready. You can get everything else entered before 3/31/2022. Otherwise, your refund won't be accurate, unless you already paid taxes on the total distribution last year. 

@Mogajdys1