Question

EG: "You'll need to revisit this area. The IRS instructions related to disaster distributions weren't ready in time for us to include" When will the software be updated?

Forum|Forum|5 years ago
February 12, 2021
1 reply
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This is in regards to pulling funds from retirement early and breaks from the deduction. Turbotax online gives me the error above when will you be ready to help with this?

TurboTax Self Employed Online

AmyC

Employee

Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions, will be e-fileable starting 2/24.

The IRS is updating form 5329’s instructions to make it clear that COVID related exceptions cannot use 5329 and should use the new 8915-E.

If you go to the IRS site, you see the word draft beside the form. It is not available yet. Once the IRS, hopefully, releases it on 2/24, then we can work to incorporate it into the program quickly.

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