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January 23, 2021
Question

When will the IRS instructions related to COVID disaster (401k distribution) be available on Turbotax?

  • January 23, 2021
  • 1 reply
  • 0 views
*Turbotax note on subject: You'll need to revisit this area. The IRS instructions related to disaster distributions weren't ready in time for us to include them in this release. Please revisit this area later.

1 reply

DoninGA
Employee
January 24, 2021

The stimulus questions are asked in the Federal Review section of the TurboTax program.  Any payment you were eligible to receive based on the 2020 Federal tax return but did not receive will be entered on the Federal tax return, Form 1040 Line 30 as a tax credit.  The credit is included in the federal tax refund or it will reduce the amount of federal taxes owed.