Form 8915-E

[kenrlutz]

when is it ready

[huamapu]

anyone know when the error will be fixed when TT says "Retirement Exclusion Worksheet, line 6, Total Exclusion" "we're still working on updates"?  Waiting on only this part to efile my Hawaii taxes.

Come on TT, do you guys have an answer?

[ajd878787]

They have no clue.  I haven’t heard about NY taxes either. 

[huamapu]

@ajd878787 it's really bad that they're being crickets right now.  We are waiting on them to just give us a timeframe on when we can expect this problem to be fixed.

[ajd878787]

Agreed. I’d recommend also asking via their Twitter handle. They are more responsive there, but the answers still lack any depth. 

[huamapu]

Asked them on Twitter, and no response...

[jbringuel]

The form is available in TurboTax but It is not available to every situation. Especially not those situations that are involved with the Care act. I know that's what it was supposed to be but it doesn't work. The only way it works is if you're under 59 and took out an early withdrawal. Anyone that took out a withdrawal and replace the redrawal right afterwards it tells you you are not eligible to do what you want to do and that is get your tax money back.

[DoninGA]

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@jbringuel wrote:

The form is available in TurboTax but It is not available to every situation. Especially not those situations that are involved with the Care act. I know that's what it was supposed to be but it doesn't work. The only way it works is if you're under 59 and took out an early withdrawal. Anyone that took out a withdrawal and replace the redrawal right afterwards it tells you you are not eligible to do what you want to do and that is get your tax money back.

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All the Federal taxes withheld on the form 1099-R are entered on the Federal tax return as tax payment.  If the total tax payments on the 2020 federal tax return are greater than the total tax liabilities then you will receive a tax refund for the overpayment.

If all the withdrawal was paid back in 2020 then the withdrawal is not entered on the federal tax return as taxable income, lines 4b or 5b of Form 1040.

[Tommy70]

Why is it that it works for the federal part..ie I get tax money back because of over payment and will let me file federal..but it doesn't work for state (michigan)? 

[KathrynG3]

An update is needed to complete your Michigan return.

There is no particular date for Michigan except that updates are being done as soon as possible. Michigan, unlike other states, is in conformity to the federal treatment for early distributions of pension/IRA funds due to the pandemic. The federal AGI is carrying correctly to MI-1040. The pension worksheet is being updated to match the portion of the distribution which is taxable.

Keep checking back daily and make sure your program is updated.

To update your program,

• for TurboTax Online, close the program and the browser completely. Re-open using Chrome.
• for TurboTax CD/Download, check either Online or Help in your menu, depending on your level of TurboTax, and select Check for Updates.

For more information about federal reporting, see: What is Form 8915-E Qualified 2020 Disaster Retirement Plan Distributions and Repayments?

[huamapu]

@KathrynG3 what about Hawaii?  Same thing...I can't file my state return because TT is saying working on issue.  Told me to check 24-48 hours and I have been but still no updates.

[Curtid33]

Is this for New York as well? As you can tell from above, NY, HI, and MI are having similar issues.

[gdshakespeare]

I get the message:  You'll need to revisit this area.  Unfortunately, the disaster distributions area wasn't ready in time for us to include it in this release.  Please revisit this area later.

I ran the update, and got the message the software is up to date.

When is TurboTax going to be updated with the 8915E form I need?

[Jedi4380]

You actually need to edit the 1099-R to get the new options to show up. I struggled with this too. I was then able to file my E-Federal and NY state return with out issue. I'm using TurboTax Premier for Mac. 

[DoninGA]

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@gdshakespeare wrote:

I get the message:  You'll need to revisit this area.  Unfortunately, the disaster distributions area wasn't ready in time for us to include it in this release.  Please revisit this area later.

I ran the update, and got the message the software is up to date.

When is TurboTax going to be updated with the 8915E form I need?

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The Form 8915-E was in the software update on 02/26/2021.

If you have updated your software, delete the Form 1099-R and re-enter manually.  The Covid-19 related questions will be available after the Form 1099-R is entered.