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January 20, 2021
Question

I took early withdrawal from my 401K because of the Covid19 cares act. Where in Turbotax do I enter this information so i don't have to pay the 10% early withdrawal fee?

  • January 20, 2021
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1 reply

DoninGA
Employee
January 20, 2021

The IRS has a new Form 8915-E for COVID-19 related retirement account withdrawals.  This form has not been finalized by the IRS for filing with a 2020 federal tax return.  The IRS has not announced when this form will be available.  Once available it will be included in the TurboTax software.

We estimate the form may be available sometime in February.