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I am trying to add a qualified FEMA declared disaster distribution for 2023, but the software does not waive the 10% penalty. Anyone having the same issue?

I answered all of the questions correctly and this is not a COVID related distribution. Per IRS guidelines if it's from a qualified plan for a qualified FEMA declared disaster you shouldn't have to pay the 10% penalty and there is a cap of $22,000 (not $100,000 like turbotax says - that was for 2020 covid -related only). I checked the forms availability with the tool and it only shows 8915-F for 2020, but isn't it the same form?
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5 Replies
AmyC
Expert Alumni

I am trying to add a qualified FEMA declared disaster distribution for 2023, but the software does not waive the 10% penalty. Anyone having the same issue?

Yes, 8915 F is the final form in the series with changes made to make it everlasting. The form has been updated and you need to make sure you are using the latest version. If you are online, it will be automatic. If you are using desktop, select online and check for updates.

 

If you entered the disaster code and all the information, the program should be working. Here is what I did to try and recreate your issue. 

 

 

 

 

 

 

 

 

 

 

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I am trying to add a qualified FEMA declared disaster distribution for 2023, but the software does not waive the 10% penalty. Anyone having the same issue?

Yes. I did that but it's still not waiving the 10% penalty or adding the form. The Form 8915-F is only being added if the distribution was for COVID. I even tried clearing and started over. Now when you select "Yes" this was for a qualified 2023 disaster, the software says that unfortunately this area wasn't ready in time for us to include the new changes in this release. Please revisit this area later.

 

 
 

 

PatriciaV
Employee Tax Expert

I am trying to add a qualified FEMA declared disaster distribution for 2023, but the software does not waive the 10% penalty. Anyone having the same issue?

Although the Forms Availability Table indicates that Form 8915-F is ready for filing, there have been recent developments that required additional updates to the form. This is why you received the message to revisit later. There is no revised estimated release date at this time. However, updates are released each week (usually Thursday/Friday) after business hours Pacific time, we recommend you wait to update your software the next day, then try your entries again.

 

@roebuck-lisa

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haozhou98
New Member

I am trying to add a qualified FEMA declared disaster distribution for 2023, but the software does not waive the 10% penalty. Anyone having the same issue?

So when the update will be available? Will it be available before the filing deadline 4/15?

CatinaT1
Employee Tax Expert

I am trying to add a qualified FEMA declared disaster distribution for 2023, but the software does not waive the 10% penalty. Anyone having the same issue?

Form 8915-F does show as being available on the Form Availability List. However there are some software updates being implemented that have resulted in a delay. There will be two separate updates to the form. The first is anticipated on the 22nd and the second is anticipated on the 29th. After those dates, update your software if you are in the desktop version of the software, and try to proceed with your return.

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