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.
The IRS website shows a Form 8915-F and it isn't labelled draft so doesn't that mean its is an offical form?
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.
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.
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.
NOTE: This Form 8915-F is still in IRS draft form. Continue to check the federal forms availability for a date of release.
When I search the official IRS website - it doesn't even list a 8915F as a pending form. Any updates?
@3905neal wrote:
When I search the official IRS website - it doesn't even list a 8915R as a pending form. Any updates?
It is a Form 8915-F and it is not yet available in TurboTax
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
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.
@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.
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
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.
I was told 3/24 too but a’las it is not there. I’m glad. I found this thread though!
@Alexisgirly wrote:
I was told 3/24 too but a’las it is not there. I’m glad. I found this thread though!
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
Alright, I was able to go in to amend the federal to add this. You have to look at 8915E form from 2021 tax filing for #s. BUT.....after that it asks which disaster affected you in 2020? There is no coronavirus related disaster listed. Everything but that is listed. And theres no way to type something in instead.
Ok nevermind. TT is still messed up with this. It goes into the review & still flags it. When you hit "fix" it gives the same message of worksheets not available!!! I'm so sick of this! Theyve had a year! They knew since last year when they gave the option of 3 yr plit, this needed to be worked in.
Has anyone been able to file their second year? We have gotten through that we at least took out a withdrawal but then keeps telling us to go back to then retirement, plans and social security. We will not enter anything on the 1099R spot since we did not receive a new one this year correct? We are so confused
there are hundreds of posts on other threads.
search the forum.
When I download the latest update it worked and gave the exact answer I was expecting.
See Don's answer on this one for how to enter it.
Here I copied it.....
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
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
2020 Form 8915E Line 17 - Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 17
The 1/3 of the amount from the 2020 distribution will be entered on the 2021 Form 1040 Line 4b if from an IRA or on Line 5b if from a retirement plan other than an IRA
I’ve gone through my taxes for hours now ! Can’t figure it out! Keeps telling me to revisit my fidelity retirement I’m assuming because I spread the cares act over three years ! But I did not get a new 1099R this year ! Do I use the one from last year? I’m so confused