Is there IRS guidance for 2021 taxes for income from retirement plan distributions in 2020 which allowed the income to be spread over 3 years? Specifically 8915-E.

[RobertB4444]

The IRS has completed a draft of form 8915-F for 2021 which will be used to report the amount that you deferred from your 2020 IRA withdrawal.  

TurboTax will automatically complete the form if you qualify.  

Here is TurboTax's guidance on the form.

Here is the IRS draft instructions.

As of right now the 8915 forms appear to be slated to be available in TurboTax on 3/17.

[dcshutrbug]

Thanks! Very helpful. I did see the Turbo Tax guidance which states that entering a 1099-R is necessary to trigger the questions. Since the withdrawal was in 2020, the related 1099-R is from 2020. No 2021 1099-R. Does Turbo Tax import the info from 2020 file? That should be considered for the Turbo Tax update. Looks like it may not be compatible for e-file anyway.

[DanaB27]

You will not enter the 2020 1099-R Form on your 2021 tax return but you will go to the retirement section when ready and answer questions in regards to the distribution and any repayment.

Once the section is available follow these steps: 

1. Login to your TurboTax Account 
2. Click on the Search box on the top and type “1099-R”
3. Click on “Jump to 1099-R”
4. If you do not have any 1099-R answer "No" to "Did you get a 1099-R in 2021?" (If you have any 1099-R then enter all 1099-R and after entering your last 1099-R click "Continue" on the “Review your 1099-R info” screen)
5. Answer "Yes" to the "Have you ever taken a disaster distribution before 2021?" screen