Question

When will Turbotax be able to apply Covid-19 disaster early withdrawal penalty exemptions? It just says to check back "later".

Forum|Forum|5 years ago
January 27, 2021
1 reply
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I entered my 1099-R. Now Turbotax shows I owe the penalty fee. When I tried to enter the Covid-19 early withdrawal penalty waive, it says that Turbotax is not ready to process these withdrawals and to check back later. Like, tomorrow, next month, next year? Should I just file manually instead of electronically? What is everyone else doing about waiving the fee who had to take a hardship withdrawal because of Covid?

TurboTax Self Employed Online

O

Opus 17

Employee

No one knows and the IRS isn't telling. You can check this FAQ, https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-personal-tax-products/00/26224

Right now the form you need for this, 8915-E, is not listed, because the IRS has provided no guidance to Turbotax as to when to expect the form.

In the meantime, I would delete the 1099-R completely, and re-enter it when the program is ready, just to avoid any glitches.

S

Simbaeyez42

OK...so form 8915-E and its instructions are available on the IRS.gov website, but Turbo Tax still isn't up-to-date. The following links show the forms being available as well as how e-file providers should be able to include the information with their e-file to prevent having to file a paper return. So my question is, when are we going to be given this option by TurboTax or should I just get a refund from TurboTax and do a paper return myself. I really don't want to wait forever to file my return. Does TurboTax know when the updated form and instructions will be updated in their tax program?

https://www.irs.gov/forms-pubs/about-form-8915-e

https://www.irs.gov/forms-pubs/alternative-filing-method-for-e-filed-returns-that-include-form-8915-e

Please advise.

O

Opus 17

Employee

If you click the link to the FAQ I posted above, it has been updated to show that the forms are expected to be ready in Turbotax on 2/24. You can also use the link in the FAQ to sign up for notifications.