1942410
You'll need to sign in or create an account to connect with an expert.
If this is in regards to the COVID related distribution from a retirement account then please be aware the 8915-E Form is projected to be e-fileable starting 02/24/2020. Please sign up here to get notified when Form 8915-E is ready.
Once the Form 8915-E is live 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.
If it is not COVID related then please see IRS forms availability table for TurboTax individual (personal) tax products
Do we know if there's any update on this? It's 2/24, and my program is still saying I'll need to revisit this area...
@crazydewcat wrote:
Do we know if there's any update on this? It's 2/24, and my program is still saying I'll need to revisit this area...
Form 8915-E, Qualified 2020 Disaster Retirement Plan Distributions and Repayments is scheduled to be available in TurboTax on 02/25/2021
Go to this website for IRS forms availability in TurboTax - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html
Thank you!
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
matto1
Level 2
trust812
Level 4
RyanK
Level 2
blessedftw
New Member
afoote
New Member