Hey all,
As I'm sure many of you have been watching for, according to this link (https://ttlc.intuit.com/community/tax-topics/help/why-am-i-getting-getting-a-10-penalty-on-my-1099-r-when-i-withdrew-fund-during-covid-form-8915-e/00/1842324), Intuit is claiming that form 8915-E is finalized and that Turbotax products have been updated to reflect this. Imagine my shock this morning after installing the latest update that it's still taxing me at 10%,without giving me the option to indicate this was a CARES Act qualified disbursement. Is the option showing up anywhere outside of the "Retirement Plans and Social Security" section of Income, or is Intuit full of it?
I have the same issue. Why is this taking so long? CARES was approved almost a year ago. Whoever is responsible (IRS or Intuit) needs to get this done.
All TurboTax versions had the 8915-E form on 2/26. If you are using the desktop version you need to update it.
I HAVE updated my copy of the desktop version, as I said in my initial post.
When I manually try to do it, it says my version is up to date, so either my install has an issue, or getting to the form is hidden away somewhere. Or do I have to search for the form instead of doing my return through the guided option?
Yes. The 8915-R form is created from the answers to the 1099-R interview to see if you qualify for the form and the other information comes form the 1099-R and other forms.
Do not even try to do it in the forms mode unless you are an expert with the 8915-E form and know how to link the other forms, but if you knew how to do that, you would not be asking the question.