Question

CARES Act withdrawal spread out over 3 years reporting on 2021 tax return

Forum|Forum|4 years ago
February 1, 2022
1 reply
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I took a qualified CARES Act distribution of $30k in 2020 and elected to spread it over 3 years. I am trying to complete 2021 taxes and I am not able to enter in the $10k for 2021 as taxable. Why? Is the 8915-E form available in Turbo Tax yet? IF not, when will it be available?

rjs

Employee

The form you need is 8915-F, not 8915-E. It's not available in TurboTax yet because the IRS has not issued the form yet. TurboTax will include the form as soon as possible after the IRS issues it. The IRS has not given a date for when they will issue the form, so there is no date for when it will be available in TurboTax.

When the form is available you will enter the income in the retirement section. If you did not receive any 1099-R for 2021 you will say that you did not receive a 1099-R. Then it will ask about a 2020 withdrawal that you chose to spread over three years.