Do you have to file the 8915E form if you opt to not pay over 3 years? Do it have to be filed if you took out before 59 in a half? Or could I file without?

sierria07 · ‎February 12, 2021

CatinaT1 · ‎February 12, 2021

Yes, you will need the form to show it was a distribution related to Covid to avoid the 10% early withdrawal penalty. You will report this on a Form 8915-E. The IRS has not yet finalized the Form 8915-E for retirement plan distributions under the CARES act. So this form cannot be included in the TurboTax program. You will not be able to proceed until the form is available.

The IRS has not communicated when the form will be finalized for inclusion on the 2020 federal tax return.

We estimate it will be sometime in February 2021 before the form is available. You can watch this link for the form availability. Currently, the form is not listed here since there is no estimated date. Once there is, you will find the form listed with the date available.

IRS forms availability table for TurboTax individual (personal) tax products

Please sign-up here and we will email you once the form is live.

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Opus 17 · ‎February 12, 2021

If you don't use form 8915-E, you will have to call it a regular, non-qualified distribution and pay a 10% penalty plus the income tax.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

mrflorance · ‎February 17, 2021

The form is now available in non draft form on the IRS site. When exactly will it be available as an update to TurboTax Business. I need it to file and my expected refund is desperately needed.

Thanks, Jim

DianeW777 · ‎February 17, 2021

It is being prepared for release. Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions, will be ready for e-file starting February 24th. It was recently moved out of the draft form by the IRS.

For more information about this form use this link: Qualified 2020 Retirement Distributions due to COVID

Sign up for email notification for Form 8915-E as soon as it's available by clicking this link.

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mrflorance · ‎March 3, 2021

I filled 8915E out on TT . Unfortunately it wont let me transmit the forms, as it keeps giving a message that you can't efile until message is removed. I'm assuming despite the form being official there are still bugs in the acceptance of the form by the IRS?? Help!!

DawnC · ‎March 3, 2021

Are you using desktop software? If so, make sure TurboTax is updated. Form 8915-E is updated in TurboTax and has been e-filed by many users as of today. Do you have any other forms in your return that have not been finalized yet? Did you have any disaster losses reported - that form is not updated yet; I believe it is scheduled for tomorrow.

One other thing for the 8915-E. Go back through the 1099-R entries and review (EDIT) them to make sure that everything needed for filing form 8915-E has been captured. You may need to delete the 1099-R and re-enter it if it continues giving you an error. @mrflorance

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Do you have to file the 8915E form if you opt to not pay over 3 years? Do it have to be filed if you took out before 59 in a half? Or could I file without?