Question

How do I claim the Cares Act in turbo tax to waive tax fees from Covid 19? We took money out of our IRA during covid to help with our bills.

Forum|Forum|5 years ago
February 1, 2021
1 reply
0 views

We withdrew money from our retirement IRA to help with bills during covid. I can't seem to find the right place in Turbotax to claim the waiving of the early withdrawal tax fee.

TurboTax Deluxe Online

M

MinhT1

Yes, you will be exempted from the 10% early withdrawal penalty.

However, the Coronavirus-related relief measures for retirement plan distributions have to be reported on form 8915-E which has not yet been finalized by the IRS. No date has been given by the IRS for the finalization of this document.

TurboTax will update this section after the IRS releases the final version of form 8915-E and its instructions. Please revisit this section at a later date.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"