Need help with 8915e form

[MinhT1]

TurboTax is still waiting for the finalization of form 8915-E and its instructions.

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.

[Dee59]

This is what the IRS is saying about it:

"Because Form 8915-E is new and impacted by recent legislation, it has not been enabled in XML for e-filing, and e-filed returns are to include an attached PDF of Form 8915-E."

To my knowledge, TurboTax has never supported the inclusion of an attached PDF. I'm thinking we'll have to use a paid tax preparer with professional software, if TurboTax can't figure this out quickly. Alternatively you could mail your return but then you won't get a refund for months. The IRS hasn't even finished processing the 2019 paper returns.

If you're trying to get your 2020 return filed fast so that you can qualify for the upcoming March/April Biden stimulus, I would go to a professional.

Here's the IRS link:

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

[macuser_22]

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@Dee59 wrote:

This is what the IRS is saying about it:

"Because Form 8915-E is new and impacted by recent legislation, it has not been enabled in XML for e-filing, and e-filed returns are to include an attached PDF of Form 8915-E."

To my knowledge, TurboTax has never supported the inclusion of an attached PDF. I'm thinking we'll have to use a paid tax preparer with professional software, if TurboTax can't figure this out quickly. Alternatively you could mail your return but then you won't get a refund for months. The IRS hasn't even finished processing the 2019 paper returns.

If you're trying to get your 2020 return filed fast so that you can qualify for the upcoming March/April Biden stimulus, I would go to a professional.

Here's the IRS link:

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

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Read the whole thing,  PDF OR statement and if neither then paper file and mail.

[luthanh2001]

What does it mean by PDF or statement? Would finding a professional be better than doing this by ourselves? 

thanks

[LinaJ2020]

As of today 2/12/2021, IRS just completed it's final development of the form.  

The Form 8915-E is available if you are going to download to complete on your own from the IRS website.  However, e-filing is different.  Once the form is finalized by the IRS, it has to be coded into the special language the software uses and has to be thoroughly tested for calculations and e-filing acceptability.  IRS then has to approve it for e-file.  It always takes a little longer for a form to become available for e-file in a software program.  I hope this helps you understand the situation.   

[macuser_22]

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@luthanh2001 wrote:

What does it mean by PDF or statement? Would finding a professional be better than doing this by ourselves? 

thanks

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TurboTax revised their position on this today - it will be for e-file.

See below for a link to sign up for an email when the form is ready.

This form is necessary to report COVID related distributions from IRA's and other retirement plans to report the distribution, pay it back over 3 years or spread the tax over 3 years.

A COVID-19 related distribution is reported on a new 8915-E form.

See this TurboTax FAQ to sign up for an e-mail when the form is ready.
https://ttlc.intuit.com/community/tax-topics/help/why-am-i-getting-getting-a-10-penalty-on-my-1099-r...

[ymhoward]

Need instructions on the E8915

[macuser_22]

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@ymhoward  wrote:

Need instructions on the E8915

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The 8915-E was for the 2020 tax year only.    It is being replaced with the new 8915-F form for 2021 which is still being developed by the IRS and will probable be released in March.

You can view the draft forms here:

https://www.irs.gov/pub/irs-dft/i8915f--dft.pdf

https://www.irs.gov/pub/irs-dft/f8915f--dft.pdf

[luthanh2001]

I guess to be more specific. I filed 8915e in 2020 for covid IRA distribution, which is supposed to split the tax burden over 3 years. This year, 2021, we need to file 8915-F and re-enter our 1099-R from 2020? and where is the option to do that on Turbo Tax? Thank you in advance!

[PattiF]

 Form 8915-F that you need to report the 2020 withdrawal is not available from the IRS at this time. They are finalizing the form and it will be released to TurboTax in the future.

You do not need to re-enter the 1099-R from your 2020 tax return. You will not receive another 1099-R for this distribution from 2020. 

In the Section to enter the 1099-R, you will be asked if you received a Form 1099-R in 2021.

• Answer No.
• The program will ask if you took a Coronavirus distribution in 2020.
• Answer Yes.
• You will be taken to the section to report 1/3 of the amount that you received on your 2021 return.

Click this link to see a discussion about when Form 8915-F will be available for the 2021 tax year.

[luthanh2001]

THANK YOU!