Recovery Rebate Credit & IRS Form 8915-E

[dvgmpalmer]

Can anyone tell me why Turbo Tax Deluxe (Windows) edition will not let me enter stimulus payment information, apply for the Recovery Rebate Credit or file an IRS Form 8915-E?

[macuser_22]

See below for a link to sign up for an email when the form is ready.

This form is necessary to report COVID related distributions from IRA's and other retirement plans to report the distribution, pay it back over 3 years or spread the tax over 3 years.

A COVID-19 related distribution is reported on a new 8915-E form that is not yet available and there is no estimated release date since the form is still in the draft state at the IRS. There is no telling how long it will take the IRS to make the electronic form available.

The draft paper form 8915-E is here:

https://www.irs.gov/pub/irs-dft/f8915e--dft.pdf
https://www.irs.gov/pub/irs-dft/i8915e--dft.pdf

Also to see if you qualify for a COVID-19 related distribution see:
https://www.irs.gov/newsroom/coronavirus-related-relief-for-retirement-plans-and-iras-questions-and-...

See this TurboTax FAQ to sign up for an e-mail when the form is ready.
https://ttlc.intuit.com/community/tax-topics/help/why-am-i-getting-getting-a-10-penalty-on-my-1099-r...

[Dee59]

The stimulus payment & Recovery Rebate questions are asked at the end, during the Review process.

[dvgmpalmer]

But those questions were not asked when I completed my review.

[macuser_22]

Try using  "Search Topics" in the desktop version or the "Tools" menu (if online version left side) and then "Search Topics" for "stimulus" .

[DawnC]

Go to the search bar up top and type in stimulus (make sure you are all the way inside of your return or search does not function), hit enter, and then use the Jump to stimulus link to be taken to the questions.   This will allow you to enter the payments that you have already received and claim the recovery rebate for any payments that you have not received.

If you took a distribution from a retirement account due to coronavirus related issues, you will be able to waive the penalty and spread the ordinary tax over tax years 2020-2022.  However, the forms have not been finalized by the IRS yet, so TurboTax has not been updated.  Once the forms are final (no date determined by IRS yet), you will see the options to apply the tax relief provisions on Form 8915-E.   The IRS does not start accepting returns until Feb 12th, so check back then to see what the status is.  

At this point and time, Form 8915-E (Qualified 2020 Disaster Retirement Plan Distributions and Repayments (Use for Coronavirus-Related Distributions)) is not finalized. We currently do not have an estimated date when the form is ready.  Please sign-up here and we will email you once the form is live.