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Level 1
posted Feb 11, 2021 4:18:54 PM

Hi anyway heard anything on the 8915E form?

0 10 1996
10 Replies
Expert Alumni
Feb 11, 2021 4:35:37 PM

Yes, we received an update today about the 8915-E. 

 

Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions, will be e-fileable starting 2/24.

 

The IRS is updating form 5329’s instructions to make it clear that COVID related exceptions cannot use 5329 and should use the new 8915-E.

Not applicable
Feb 24, 2021 8:45:19 AM

Today is the 24th. and it is not showing up yet on turbotax online. is there a particular spot to go to?

Level 15
Feb 24, 2021 8:48:39 AM

@Anonymous wrote:

Today is the 24th. and it is not showing up yet on turbotax online. is there a particular spot to go to?

Form 8915-E, Qualified 2020 Disaster Retirement Plan Distributions and Repayments is scheduled to be available in TurboTax on 02/25/2021

Go to this website for IRS forms availability in TurboTax - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

Not applicable
Feb 25, 2021 5:56:26 AM

Any word on this? It is 2/25 and still the site hasn't asked me anything different when going through the section where the 401k money was withdrawn due to covid related purposes. 

New Member
Feb 25, 2021 6:18:06 AM

It should show up now. I just got done with them asking me née questions. It spilt mine up for me. 

Expert Alumni
Feb 25, 2021 10:14:30 AM

You might have to delete the 1099R and re-enter it.  The 8915E is available in TurboTax Online.  It is not available yet for the Desktop products.  The 8915-E will be used for penalty relief from early retirement plan distributions and include the option to spread the distribution income over 3 years.  This may be a good option if the distribution is pushing you into a higher marginal tax bracket.  You may end up paying less tax if you spread the distribution over the 3 years

Not applicable
Feb 25, 2021 10:16:05 AM

Thanks i was able to get it to prompt for the right questions after this.

Level 3
Feb 25, 2021 1:23:29 PM

Did you do the desktop version ? I cannot get mine to work 

Not applicable
Feb 25, 2021 1:42:18 PM

No i use the online version. however the previous guy said it isn't ready for the desktop version yet.

 

"It is not available yet for the Desktop products"

Expert Alumni
Feb 25, 2021 2:03:43 PM

Please review the steps below and TurboTax should remove the penalty that is allowed under COVID. The Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions, is in today's release so you may need to give it a little time. 

 

It's always a good idea to clear any cache and cookies, as well as any browsing history, to eliminate any pieces of memory in the background that could cause issues unknown.

 

Steps to review in your tax return for this entry:

  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” you should see the “Your 1099-R Entries” screen and will click "edit"
  4. Continue until "Tell us if any of these uncommon situations apply" screen
  5. Select "I took out this money because of a qualified disaster (includes COVID-19)"
  6. Answer the any question.

For more information about this form use this link: Qualified 2020 Retirement Distributions due to COVID