Question

Do you know when updates for pension distribution and stocks, mutual funds will be ready?

Forum|Forum|5 years ago
March 19, 2021
1 reply
0 views

I keep updating Premier and get the message forms aren’t ready from IRS and I need to wait. For how long? Is it an error?

TurboTax Online

M

mglauner

The updates for a Pension Distribution are ready in the Federal section.

Some states are still working to comply with the Federal CARES Act and the corresponding forms may not be ready for state filing.

When you enter your 1099-R, indicate that 'none of the distribution was RMD'. If you indicate that the distribution was 'disaster-related' (due to Covid financial hardship), you will not pay an Early Distribution Penalty, and will have an option to not report all the income this year (a checkbox) and spread it out over three years.

If you are not seeing these options, try deleting your 1099-R and re-entering it.

Click this link for more info on Tax Changes under the CARES Act.

This does not affect reporting of stocks sales, interest or dividends, which is unchanged.

E

empoweredrAuthor

Updates are still not working with the note to come back later for Retirement distribution form and stock form areas for me to even answer any questions. I was told to delete the 1099R and then get the new one. I have 3 of these forms that I use. I see how to delete an individual 1099R but how do I get it uploaded back again and will it have my info transferred on it the same as the old one? Also I was told the stocks haven't changed but I can't access that area either to answer questions because of it saying there needs to be updates. What do I do for these? I need to be able to answer the questions to place the information. Please explain how to get these and steps to do that, specifically. I'm not majorly computer savy but can follow steps. Very, very frustrating.