How do it get and fill out 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.

The IRS has announced that the 8915-E for will NOT be e-fileable, but has offered two alternatives to allow e-file with attachments. Whether TurboTax will implement either of these is unknown at this time.

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...

[neddy328]

https://www.irs.gov/forms-pubs/alternative-filing-method-for-e-filed-returns-that-include-form-8915-...

[macuser_22]

As I said above "Whether TurboTax will implement either of these is unknown at this time."   Currently TurboTax does not support any type of attachments.

[maj3]

True, but with 10 days remaining until the form is finalized by the IRS ( according to their website) and because of the financial impact on TurboTax should they forgo including form 8915-E in their efiling package, I think they should go above and beyond to make the form available in their filing option; otherwise, they will lose significant income by their regulars switching to tax professionals for this form only. This is just my input . Thanksn

[macuser_22]

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@maj3 wrote:

True, but with 10 days remaining until the form is finalized by the IRS ( according to their website) and because of the financial impact on TurboTax should they forgo including form 8915-E in their efiling package, I think they should go above and beyond to make the form available in their filing option; otherwise, they will lose significant income by their regulars switching to tax professionals for this form only. This is just my input . Thanksn

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You are ahead of me - I have seen nothing on the IRS website that indicates when the form AND instructions will be available - both are necessary.   Where do you see "10 days"?

[maj3]

As I expected, the firm is available now by the IRS which is even less than 10 days, and it will be e-fileable by the 24th ( estimates). I do remember reading the 10 day thing, but couldn’t reference it. At the end, we as customers that what we expect. I hope this is good for all regardless of who is right or wrong. 

[macuser_22]

Now that the IRS had made the form available, TurboTax can go ahead and submit the  TurboTax version to the IRS for approval that is required before it can be released to the public so the IRS can test to be sure it is compatible with the IRS computers.   That Typically takes the IRS 2-3 weeks.

The TurboTax 8915-E should be available on Feb. 24.

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.

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...