It looks like the IRS has released Form 8915-E for Coronavirus Distributions from 401k. When will Turbo Tax have that form in place so I can finish my taxes?

[liwanaga1]

Oregon is still not working. I'm on chat with a Turbotax rep and they made me go through every step before they would even look at the known 8915E Form issue. Frustrating

[DawnC]

The 8915-E only affects your federal tax return.  What is not working on the Oregon state return?   @liwanaga1

[Roundtown]

Disk version of deluxe fed/state with all updates. Answered all Covid questions for Roth withdrawals but form 8915-E is not generated. Suggestions?

[AmyC]

Please review your answers and see What is Form 8915-E Qualified 2020 Disaster Retirement Plan Distributions. Let's go through it together:

1099-R, not more than $100,000, entered

1. Return to the 1099-R, edit/update
2. Box 1 gross distribution
3. Box 2 taxable amount, enter the full amount
4. Box 7, code 1
5. taxes withheld
6. continue
7. About the Money... continue
8. Answer IRA, Safety Officer, continue
9. Select your state, continue
10. Where Is this Distribution from? Neither of the above, continue
11. What did you do? Something else, continue
12. Periodic payments? No, continue
13. Was this COVID? Yes, COVID, continue
14. How much? Enter all or portion, continue
15. Receive before Dec 30? Yes
16. Did you or dependents test positive? answer
17. Did you have reduction in income or other on the list? answer, continue
18. Did you repay any? answer, continue

If you need to cheat, go into Forms Mode and open the form. Fill in the gross distribution and then switch back to step by step. That should make it realize what you want.

@Roundtown

[Roundtown]

Thanks Amy

Had a total of 5 1099Rs (actually more but for stuff like pension), all downloaded from Vanguard. All were from Roth IRA accounts, with four from the mutual fund accounts and with box 7 coded Q. The one from a brokerage had box 7 coded T. No taxes were withheld as none are owed although VG showed that taxable amount was not determined. Misc questions were answered appropriately. The TT generated 1099-R for the one with a code T does not have the box checked as to whether or not it is a qualified distribution(not sure if it should have been).  Coronavirus questions answered appropriately, (spouse tested positive and distribution done in time) such that all of the TT generated 1099-Rs have the box checked for 2020 Coronavirus-related distribution in the Qualified Disaster Distribution Smart Worksheet as is the next line stating Entire Distribution is Qualified. No further entries appear on the TT generated 1099-Rs.  No repayments have been made. I expect that a Form 8915-E would be generated but none is. If I force open a 8915-E, there are none of my numbers populating it, and I cannot manually enter data on it. Looking for further advice.

[AmyC]

Are you on a mac? In the windows version, I can go to the 8915-E, go to line 1 and both column a and b will let me right mouse click and choose override.

Once your override line 1 a and b with  numbers, you should be able to go to step by step and  get the form to play along. Then you can come back and right click to cancel the override.

On a mac, command click might do it. 

@Roundtown

[RX2]

SO NOT TRUE.  What lies... I just went online NOW 4-23 and TurboTax still comes up with this:

You've gotten such an amazing head start on your taxes this year that some of the forms you need to complete your federal return haven't been finalized.

Once these sections are ready to go, we'll help you pick up where you left off

However, here is a work around,,, use HRBlock,, there software works just fine and has all of the forms and will efile them.

To be fair to Intuit I even called and spoke to their support team and they confirmed I can NOT file and would need to print my return and mail it.  ADIOS INTUIT

[RX2]

Try HRBlock

[Roundtown]

I had tried hr block before ordering TTax. It handled the 8915E correctly but had a different flaw that I could not work around in not correctly including an inherited Ira distribution as taxable income on the 1040 form. Starting to think that the talent that originally developed these programs have all retired or moved on and they have become unreliable. Might be time to move back to paper.

[macuser_22]

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@Roundtown wrote:

I had tried hr block before ordering TTax. It handled the 8915E correctly but had a different flaw that I could not work around in not correctly including an inherited Ira distribution as taxable income on the 1040 form. Starting to think that the talent that originally developed these programs have all retired or moved on and they have become unreliable. Might be time to move back to paper.

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Why do you think a 8915-E for should be used for a Code Q or T Roth distribution that is not taxable anyway?

A 8915-E allows spreading the tax over 3 years but there is no tax to spread.  A 8915-E is not used for a normal Roth distribution.

[jili]

When will it be available?  How will I locate it?  Will the return be considered late?

[DoninGA]

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@jili wrote:

When will it be available?  How will I locate it?  Will the return be considered late?

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Go to the Retirement income section for entering a Form 1099-R.

If you had a Covid-19 related distribution in 2020 and selected to spread the distribution over 3 years -

Answer No when asked if you received a Form 1099-R in 2021, if you did not receive the form

Answer Yes when asked if you took a disaster distribution

Answer Yes when asked if you took a Qualified 2020 Disaster Distribution

Check the box that this was a Coronavirus-related distribution reported in 2020

If the 2020 distribution was from an account that was Not an IRA

2020 Form 8915E Line 9 - Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 9

If the 2020 distribution was from an IRA account

2020 Form 8915E Line 17 -  Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 17

The 1/3 of the amount from the 2020 distribution will be entered on the 2021 Form 1040 Line 4b if from an IRA or on Line 5b if from a retirement plan other than an IRA

[Ringo6408]

Hi,

Question, what if I already paid all of my Disaster Relief Taxes due to COVID on my 2020 taxes? Do I still need to check that I took Disaster Relief from an eligible IRA? By checking that, it is not letting me e-file my taxes.

[AmyC]

You can select no since it is already completed for you. You are correct, no need to bother with things that do not relate to you.

@Ringo6408