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horns2214
Level 1

Why is it telling me i need to wait for form 8960 in order to file when i dont have any income from investments?

 
5 Replies
AlanT222
Expert Alumni

Why is it telling me i need to wait for form 8960 in order to file when i dont have any income from investments?

The best option is to remove the form or schedule that is requiring you to enter the information.  

 

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

  1. Open or continue your return in TurboTax.
  2. In the left menu, select Tax Tools and then Tools.
  3. In the pop-up window Tool Center, choose Delete a form.
  4. Select Delete next to the form/schedule/worksheet in the list and follow the instructions.
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horns2214
Level 1

Why is it telling me i need to wait for form 8960 in order to file when i dont have any income from investments?

Thanks but that did not work.  I deleted the form and it still says that I have to wait to file my taxes until that form is available from the IRS.

LinaJ2020
Expert Alumni

Why is it telling me i need to wait for form 8960 in order to file when i dont have any income from investments?

I am not sure what happened.  I am attaching a TurboTax link about who is required to file the Form 8960.  Please read to verify if you are not required to file.  Click here: Net Investment tax

 

If you are not required to file, there might be some investment information being carried over from previous year. I would suggest you to to clear and start over your 2020 entries and re-enter them.  Here are the steps:

  • Sign in to your account, select Pick up where you left off
  • To your left, select Tools, click on the drop-down menu
  • Select Clear and Start Over
  • Follow prompts to re enter information

Hope that helps.

 

@horns2214

 

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horns2214
Level 1

Why is it telling me i need to wait for form 8960 in order to file when i dont have any income from investments?

i tried to delete the form and that didnt work.  it just reappears.  if i am going to start over then i will just find a different tax software to use.  Disappointing.

AnnetteB6
Expert Alumni

Why is it telling me i need to wait for form 8960 in order to file when i dont have any income from investments?

Form 8960 works by going through the calculation if your modified AGI triggers that it might be applicable.  The good news is that when the form becomes available and you are able to file your return, you will not incur a delay in processing since the IRS will not start processing returns until February 12, 2021.

 

If you are trying to delete the form and it keeps reappearing, that indicates that there is something in your return that is triggering the form.  Deleting it would not be a correct and complete return and TurboTax would not allow that if it is required.  

 

To read more about Form 8960, take a look at the following TurboTax article.

 

What is Form 8960: Net Investment Income Tax

 

 

@horns2214

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