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ebarkley71
Returning Member

Pension Taxes

With my 2020 taxes I qualified for the cares act and had to withdraw my pension to keep above water. I set it up so I could pay the taxes over the three years. Now it is time to pay for the second third. How do I enter this information on my 2021 taxes?

6 Replies
rjs
Level 15
Level 15

Pension Taxes

The ability to enter the payment has not yet been implemented in TurboTax. The IRS has not even released the form for it yet.

 

DMarkM1
Employee Tax Expert

Pension Taxes

As @rjs mentions the forms are not approved/released yet.  Once those forms are implemented you will visit the "Retirement" topic in the "Wages and Income" tab.  If you have Forms 1099-R for TY2021 distributions, you can enter them as usual. 

 

If not, you just select "NO" when asked if you received a 1099-R. 

 

At either point, you will then be asked about prior year "Disaster Distributions."  Follow the prompts from there to enter the second installment of your distribution.  

 

Here is a link to the TurboTax forms availability page where you can monitor the implementation status.  It will be a Form 8915 for TY2020 distributions.  

 

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row06
New Member

Pension Taxes

So what this says is, even though I'm all set to file - minus this one form, I'll have to wait until mid-March to do so?! Is there another way to file without TT? Can I file on my own via paper and mail in? Or is this not something that is available to anyone, anyway? 

rjs
Level 15
Level 15

Pension Taxes

@row06 

It's something that's not available to anyone right now. TurboTax is not the problem. The IRS has not issued the form yet. There is no way to file without the form, not on paper by mail, and not by e-filing.


We don't know when the form will be available. I don't see anything about March in the replies above. (DMarkM1 might have mentioned March and then changed his post.) No date has been announced. It could be earlier than March.

 

VolvoGirl
Level 15

Pension Taxes

The Forms Availability list shows 3/17 for form 8915

rjs
Level 15
Level 15

Pension Taxes


@VolvoGirl wrote:

The Forms Availability list shows 3/17 for form 8915


That's for 8915-B, 8915-C, and 8915-D. The form that's needed for a 2020 distribution that is spread over 3 years is 8915-F, which isn't even in the list.

 

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