Hello. I took out a disaster qualified distribution from my retirement plan in 2020 and opted to spread it out in 3 years. Last year I was able to easily file it but this year, when I select that it is a disaster qualified distribution, there is a drop down list but the coronavirus is not listed there. Just a bunch of states with misc disasters. It also asks for disaster start date and end date. How do we bypass this and can it be left blank?
Thank you!
There is a flaw in the software that I am trying to get to the attention of the developers.
To report the Disaster Distribution income, you need to enter the information under "Retirement Plans/ Social Security" . Under the drop down for 1099-R, answer "no" to a 2021 distribution ----> continue, answer "Yes" to Have you ever taken a disaster distribution before 2021? -----> continue, answer yes to Did you take a 2020 Qualified Disaster Distribution?, then check the box next to If this was a Coronavirus-related distribution reported in 2020 check here.
The problem is, the software is NOT using the questionnaire to populate the form 8915-F, so it calculating the 1/3 total distribution and adding it to your 2021 income, nor is it adding the tax due on the income to your tax bill.
No. It is required to answer the question. However, the form needed to properly report the second year of the distribution was just finalized by the IRS today. You are seeing all of this information because the form is not ready yet in TurboTax. It will now take TurboTax a few days to program into the system then get it approved by the IRS before the form will work accurately. Please allow a few days then check back to file your return as seamlessly as 2020.
Keep in mind:
Your software is allowing customers to fill out the disaster distribution questionnaire, complete their filing, then submit for an error check and file their return even though the income is not being reported on the return. It is NOT generating an 8915-F
I not know what kind of distribution you are reporting.
I am reporting Qualified 2020 Disaster Distributions From Retirement Plans (Other than IRAs) in Part II from the 2020 8915-E.and:
Under Qualified 2020 Disaster Distributions From Retirement Plans (Other Than IRAs), I reported:
I was able to generate an IRS Form 8915-F Qualified Disaster Retirement Plan Distributions and Repayments and report distributions other than IRA's in Part II.
The intent is for you to see the 1/3 spread over the three years:
Thanks for the response. I selected all
the coronavirus options however under the drop down list of “disaster names” coronavirus was not on there. I will wait a few days for the bugs to be worked out and come back to file.
will the 2021 tax software be updated soon to correct the issue reported in the software -
The software tells me that "I can't file yet due to disaster tax relief laws being passed by Congress" - when the IRS website clearly tells us to file 8915-F - looks like a bug in the software - PLEASE ADVISE - is there a work around to update the form manually if the questionnaire can't handle it - I would NOT like to file an extended return when it appears that there is no "real issue" - just the software..
Thank you
I do not know what kind of distribution you are reporting.
I am able to report Qualified 2020 Disaster Distributions From Retirement Plans (Other than IRAs) in Part II from the 2020 8915-E.and:
I was able to generate an IRS Form 8915-F Qualified Disaster Retirement Plan Distributions and Repayments and report distributions other than IRA's in Part II.
The intent is for you to see the 1/3 spread over the three years:
Disaster distributions taken in 2017, 2018 and 2019 may be available on March 31.
Tax year 2020 - I took a qualified disaster distribution for a part of my IRA 2020 distribution to be split over 3 years - 1/3 was applied in 2020 taxes and I expected to take the 2nd 1/3 in 2021 (I also took a new IRA distribution in 2021 (not a qualified disaster distribution)
the software did not generate a 8815-F for the 2nd third of the 2020 - please advise
is there a time and number that I can speak to an expert - live?
I ran into the same problem last week as the form and the integration in the software are VERY POORLY done.
If you had a Covid-19 related distribution in 2020 and selected to spread the distribution over 3 years -
Answer No when asked if you received a Form 1099-R in 2021, if you did not receive the form
Answer Yes when asked if you took a disaster distribution
Answer Yes when asked if you took a Qualified 2020 Disaster Distribution
Check the box that this was a Coronavirus-related distribution reported in 2020
2020 Form 8915E, line 4, column b - Enter the total amount of the withdrawal from 2020
If the 2020 distribution was from an account that was Not an IRA
2020 Form 8915E Line 9 - Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 9
If the 2020 distribution was from an IRA account
This will create the 8915-F and add the appropriate tax to your bill.
For me it seemed to fill in the 8915-F form automatically. In my case I did not repay any of the distribution so I it added the tax on the 2nd distribution to what I owe. But it still stops me at the end with this same message.
IRS Form 8915-F information can be entered at the screen Did you take a 2020 Qualified Disaster Distribution? I was able to report Qualified 2020 Disaster Distributions from Part II and Part III from the 2020 8915-E by following these steps.
I also reported that:
You may view the distributions on the 2021 Federal 1040 tax return at Tax Tools / Tools / View Tax Summary / Preview my 1040. You may view Form 8915-F at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets.
Form 8915-F Part II distributions may be found on line 5b of the 2021 Federal 1040 tax return. The distribution is not reflected in box 5a. See entries for Part II of Form 8915-F on lines 12, 13 and 15.
Form 8915-F Part III distributions may be found on line 4b of the 2021 Federal 1040 tax return. The distribution is not reflected in box 4a. See entries for Part III of Form 8915-F on lines 23, 24 and 26.
Live Tax Advice is available by clicking the upper right hand corner of the screen. Additional payment may be required.
@pjpbydasea
It’s stopping me at disaster ending date. No idea what to input but it wants a date.
Review the steps and see the images below. The following steps should be used to enter your COVID qualifying distribution. Do Not enter a FEMA code because this doesn't have one. You must have your Form 8915-E from your 2020 tax return.
If the 2020 distribution was from an account that was Not an IRA
If the 2020 distribution was from an IRA account
Do not enter anything in the other boxes, leave them blank (empty)
I’m close but not sure where I’m tripping up. Mine is from a 401k so the taxable amount I have in boxes as shown in pic.
Since your 2020 Disaster Distribution was from a 401K, your entries should be in the fields in the section 'from Retirement plans other than IRA's.'
You will need Form 8915-E from your 2020 return for the Line 9 and Line 10 amounts.
You probably should not have an entry in the 'from IRA' section unless the IRA box was checked on your 1099-R.
If you can clarify what type of error you are receiving, we'll try to help.
Here's more info on Form 8915-F.
Thanks Marilyn so I seem to have everything but when I go to wrap up I get pictured below. Also it wants an ending date that I’m unsure of.
You don't need a Form 8915-E in your 2021 return. You can delete this form and this should resolve the error.
So I deleted 8915 but it asks if I took a 2020 qualified distribution…if I click yes won’t that bring that form again ? Thanks for your help
So if I look at mine I see an 8915-F form, which should be there because I took a 401K distribution related to covid and spread it out over 3 years. The only thing I'm stuck on is the checks at the end. What support told me is that this should be resolved on March 31st, so I assume there is another update coming out tomorrow. So I'm thinking that if you need to file an 8915-F, TurboTax is not going to allow you to finish your return until the update comes out. Anyway, that's my take on things.
This worked for me! I was getting the form error...this resolved it.
You need to click yes to the disaster distribution for 2020 to get the 8915F. If you have already been through that section and deleted the 8915-E, then you do not need to go through the section again. Once the new update is released, we will all know more.
@sims473
So basically we have to wait until after the 31st? Also is there a difference filing on mobile or pc?
Individuals posting on this thread have been able to file. I was able to report Qualified 2020 Disaster Distributions from Part II and Part III from the 2020 8915-E by following these steps.
I also reported that:
You may view the distributions on the 2021 Federal 1040 tax return at Tax Tools / Tools / View Tax Summary / Preview my 1040. You may view Form 8915-F at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets.
Form 8915-F Part II distributions may be found on line 5b of the 2021 Federal 1040 tax return. The distribution is not reflected in box 5a. See entries for Part II of Form 8915-F on lines 12, 13 and 15.
Form 8915-F Part III distributions may be found on line 4b of the 2021 Federal 1040 tax return. The distribution is not reflected in box 4a. See entries for Part III of Form 8915-F on lines 23, 24 and 26.
[03/30/2022 2:20 PM PST]
@sims473