How do I file the cares act 401k withdrawals for the 2nd year ?

[Hunter2011]

I filed my 2020 and did it over a three-year period now how do I report it on 2021 taxes

[Ookiebear]

You have to wait for form 8915-F to be completed and released by the IRS.  Last year we used form 8915-E. It has since been updated to a permanent form that the IRS has not completed as of yet.  There is no definite date but several reports from different tax preparers saying Feb 1st, Feb11, March sometime, possibly May and we will need to file an extension.  The IRS also completes the forms that are most used first so this new 8915 form is on the bottom of the list since it is not used often.  When it is released Turbotax will then need to update it to their software so that might take a little bit of time as well. 

[kevinslattery231]

The IRS website shows a Form 8915-F and it isn't labelled draft so doesn't that mean its is an offical form?

[JulieS]

The IRS has removed draft from their 8915-F as of today, but the instructions are still in draft format, so it will be a little while yet. 

Click here to see.

[Joyzoz]

There doesn't seem to be any place to pay taxes on year 2. This is pure insanity. They spit it into 3 years and with no new 1099r turbo tax has no line to report it. Their program is bad this year. 

[DianeW777]

As noted below, the form necessary to complete this step with your tax return, the IRS is not yet ready.  To record one third of a distribution you were allowed to take without penalty due to COVID, you can use the steps below.

1. Sign into your TurboTax account > Select Wages and Income > Scroll to IRA, 401(k), Pension Plan Withdrawals (1099-R) > Edit/Add
2. Continue through Form 1099-R entry if applicable and select I took out this money due to a qualified disaster
3. Continue to enter the requested information
   1. Form 8915-F is used to report a disaster-related retirement distribution, and any repayments of those funds. It also allows you to spread the taxable portion of the distribution over three years, if needed and report prior year distribution amounts which are to be taxed in 2021.
   2. We'll complete and include Form 8915-F with your return if you qualify. Just enter your Form 1099-R and answer a few questions to determine your eligibility.

NOTE:  This Form 8915-F is still in IRS draft form.  Continue to check the federal forms availability for a date of release.

• What is Form 8915-F?

[3905neal]

When I search the official IRS website - it doesn't even list a 8915F as a pending form.  Any updates?

[DoninGA]

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@3905neal wrote:

When I search the official IRS website - it doesn't even list a 8915R as a pending form.  Any updates?

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It is a Form 8915-F and it is not yet available in TurboTax

[doramlm6]

I keep waiting to see if TurboTax has any new update but they don't!

 I've went to the IRS website and they no longer have the draft formate, its seems it ready to be loaded tax preparation software . Now, the real question is?????? When will the form be loaded in the system...turbotax?? It's been two years get this form ready to go. SMH

[BillVendetta]

End of March, fabulous.

Very prompt.

[KingBeezee]

This is sad. TurboTax should be able to expedite the software update that is needed. We shouldn't have to wait till the end of March to file our taxes if we had a 2020 Retirement withdrawal.

[DoninGA]

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@KingBeezee wrote:

This is sad. TurboTax should be be able to expedite the software update that is needed. We shouldn't have to wait till the end of March to file our taxes if we had a 2010 Retirement withdrawal.

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The form has been moved up a week.

Form 8915-F, Qualified Disaster Retirement Plan Distributions and Retirements is schedule to be available in TurboTax on 03/24/2022

[Constantine1]

don't use the excuse it isnt used offen. Because of the cares act it will be used a lot by alot of people who had to draw out of their 401K just to make ends meet. There is no excuse that Turbo Tax can't update their forms now. It is needed by many.n ubderstand the IRS has approved the changes Turbo wants to make, its turbo Tax dragging there feet.

[Alexisgirly]

I was told 3/24 too but a’las it is not there. I’m glad. I found this thread though!

[DoninGA]

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@Alexisgirly wrote:

I was told 3/24 too but a’las it is not there. I’m glad. I found this thread though!

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The TurboTax online editions were updated for the Form 8915-F during the evening of 03/23

The TurboTax desktop CD/Download editions have a software update on 03/24 which includes the Form 8915-F