The 8915-E Form is projected to be e-fileable starting 02/24/2021, unfortunately. As of today 2/12/2021, IRS just completed its final development of the 2020 version of this form. Please click on the following link and sign up for an email notification when it's fixed.
The forms are available if you are going to download from the IRS website. However, e-filing is different. Once the form is finalized by the IRS, it has to be coded into the special language the software uses and has to be thoroughly tested for calculations and e-filing acceptability. IRS then has to approve it for e-file. It always takes a little longer for a form to become available for e-file in a software program. I hope this helps you understand the situation. At this point, the IRS expects to approve the form 8915-E on TurboTax e-file as 02/24/2021. Thank you for your patience.
If you are under age 59 1/2, the distribution from the retirement plans and IRAs is considered as an early withdrawal. Generally, you will pay both regular tax plus an additional 10% penalty of your entire distribution unless you met certain criteria. Due to the CARES Act, if your retirement distribution is related the Covid-19, you will not be liable for this additional penalty. You will still pay the normal taxes like your wages and income. For more information from the IRS, click here: Covid Relief. If your distribution is not related to the Covid, you will need to pay the penalty.
Why is it available on TaxAct and FreeTaxUSA and few others? I have been with Turbo over 15 years and I filed under Taxact to see the difference and I'm blown away. Whats happening
10 days to update this simple form? I am going to have to try another platform if it isn't quicker. With possible new stimulus checks being based on last year vs this years income, there is no time to waste!
When you claim a qualified COVID-19 disaster during the interview for your 1099-R, TurboTax states:
This TurboTax Help allows you to sign up for notifications for when the IRS form 8915-E is operational.
Forms availability can be found here.
Apparently, other tax platforms have this form ready.
Nott much longer. 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.
The pandemic has affected your taxes in many ways. Including reporting in TurboTax the amount of stimulus money you received. Click Here for more information on how the Pandemic affected your 2020 taxes.
They do your right. Taxation FreeTaxUsa and TaxSlayer.. its about the software what they will attach when transmitting our returns.
It is being prepared for release. Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions, will be ready for e-file starting February 24th. It was recently moved out of the draft form by the IRS.
Like you @Mommyof3, I have used TT a very long time but this past weekend I was reading through Reddit and noticed several users stating that FreeTaxUSA had the 8915-E form available and ready for e-filing. Yesterday, I decided to see for myself and sure enough it is on there and I was able to file my taxes for free and being able to go ahead and file them using my lower income numbers for 2020 should also allow me to receive any new stimulus or economic impact payments that get approved. The only part that will not be free is the state tax return.
You are right. Next year I will use something else after 20 some years.
This form will be ready for e-file and print on 2/25/2021
Today is Feb 25, 2021, when will this 8915-E form be available in TurboTax so I may finish my 2020 tax return.
today is 2/26/21 and still no form to file Covid-19 related IRA withdrawls.
Yes the 8915-E form is now in both the online and desktop versions. If you are desktop then update the software with today's update.
Form 8915-E is available in both the CD/Download and online versions of TurboTax.
Please make sure your program is up-to-date. In TurboTax CD/Download, you will be prompted to download any updates available when you open the program. You can also update the program while you have it open by following these steps:
If you are using the online version or after you have updated the CD/Download version be sure to go back through the 1099-R section in the federal return.
In the screens following the 1099-R entry screen:
Screenshot #1
Screenshot #2
I just updated my Desktop version of TurboTax 2020 Deluxe and do not see any of the new questions/screens for Form 8915-E. What might the issue be?
Go back and review and edit your 1099-R entries. Once you click on Edit, click through the screens, and you will be taken to the disaster relief questions pertaining to Form 8915-E. Make sure your software is updated first, though. @Bob2006
Updated turbo tax deluxe on 2-27-21 and looks like form 8915-E still not available. Did I miss something for not available yet?
The form is produced when you enter a 1099-R and answer the interview question that is was a COVID distribution.
Or to view the blank form switch to the forms mode and and click the "open form" icon.
This thing is so frustrating. I will have to think twice about using TurboTax next year. Very disappointing. I finally found the form 8915 e and filled it out. However, Turbotax or IRS still needs to review one of the worksheets and I still cannot file since error message keeps popping up. I have never filed my taxes so late and Lord knows when I will be able to file given this ongoing nonsense. Sad.
What is the error message? There are 3 states that are still being worked on, but Federal should not have any errors.
New York is my state.
It states that it is waiting on update from Pension/Annuities/IRA program. They say that they are working on the form.
You're right. Tax ACT and others have the forms E and the state version incorporated into their software, and when I tried it, I was blown away also. Maybe it's time to move away from Turbotax. I have been with Turbotax since 2009. You just have to try others to know what you're missing. I am currently stocked with this form, and I can't complete my NY and NJ Distribution form for early withdrawal due to COVID in Turbotax, but I can in TAXACT. This is a shame. Turbo is not getting it!!