When will the next update to TurboTax be released that includes early distributions from an IRA due to qualified disaster (including COVID-19)?

[PattiF]

This is the latest about Form 8915-E from TirboTax.

[drwhoeric]

The IRS had released the 8915-E form mid February 2021 and TurboTax has claimed they will be including the form in the E-File. I hope they will commit to including it as part of the update by 24-Feb-2021 as it will be a nightmare to E-File without it.

[jonsarandcin]

The list of forms available now has 8915-e available online tomorrow the 25th....

[ihitf13bro]

i just checked, its not available yet in turbo tax. maybe it will take Intuit some days to implement.

[Dblkk]

I see turbo tax finally has the forms for us to fill out for the covid hardship. But when it checks for errors, i have an error, essentially "Form 1: penalties on IRA. Were still working on updates related to penalties on IRAs, retirement plans, MSA's distributions (Form 1099-R) that qualify for disaster or covid relief. You can keep working on your return and we'll remove this message when its ready."

It is March 10th, I believe a month ago/now since I've been waiting for turbo tax. And were only a few weeks left to actually file BEFORE the deadline. Glad I spent $100 for a program to do crap the entire filing season. Used turbo tax every year since i can remember. Aparently I'm just going to pay $100 for HR block to do it for me next year. 

[saruff]

Any updates on when this will be released for 2021 returns to recognize the second year of taxes on the distributions for those of us who chose to split it over 3 years?

[MarilynG1]

The IRS has not yet finalized Form 8915-F for reporting deferred retirement distributions from 2020.

Once that happens, TurboTax will include it in the program as soon as possible.

Here's a link for the IRS Draft of Form 8915-F. 

[macuser_22 · Accepted solution]

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@saruff wrote:

Any updates on when this will be released for 2021 returns to recognize the second year of taxes on the distributions for those of us who chose to split it over 3 years?

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Reporting the 2021 CARES act retirement plan distribution for 2020 that gave you 3 years to repay it back to the plan will be part of the 1099-R interview. If you do not have a 2021 1099-R it will ask if you have a 2021 1099-R, if you answer no it will ask if you have 1099-R income - say no and it will then ask if you had a disaster distribution from 2017-2020 - say yes. Currently it will say that the form is not ready yet - check back later.

This will be reported on a new 8915-F form that is still in the draft state at the IRS. Once the IRS finalizes that form the IRS must then write the e-file specifications (schema) for TurboTax (and all other e-file providers) to program from. That usually takes 2-3 weeks after the paper form is finalized.

The new form is expected sometime in March.

The draft forms can be viewed here:
https://www.irs.gov/pub/irs-dft/f8915f--dft.pdf
https://www.irs.gov/pub/irs-dft/i8915f--dft.pdf