When will 1099-R form be available in 2020 TurboTax Deluxe? It appears on irs.gov, so appears to be ready from IRS, just not TurboTax software.

[TKerestes]

To Macuser22

Thank you for a very good response. 

However, with all this in mind, I would have thought Turbotax could have programmed a way to use the interview mode with caveats that formal filing cannot be done until approved forms are received.

If not, then there should be  a comment about using the "forms" approach saying that this does not guarantee an accurate result, just an estimated forecast.

[Critter-3]

Those warnings will be posted in the REVIEW tab once the program is ready for efiling.  Right now the program is still in a "beta" version which is very incomplete and is only put out in advance because users will pay for an incomplete system   and to capture market share in the DIY arena.   All the DIY programs do this ... it is a marketing ploy.   

[macuser_22]

Also, note that ONLY the CD/download desktop software has the forms mode - online does not and over 80% of all do-it-yourself users use the online versions.    Only die-hard (want to see what is under the hood) users will ever see the "forms mode".

[Kinghl_73]

It should not matter whether it is the government or not, incomplete software should not be sold. 

I buy this like many others early every year to estimate what I need to do this year for taxes especially investment and distribution sections.  Yes, I can go back to 2019, but my trust in TTax has decreased exponentially.

I can guess that TTax is selling incomplete software to make $$ and screw the customers.

[TKerestes]

I agree 150% with Kinghl_73.

I hope someone in Turbotax management is following this discussion.

This is the FIRST year out of 20 I have experienced this 1099-R and 1099-B situation.

I am tried of hearing the excuses that have been presented.  I am sure that in the past, IRS forms where not ready when the software was sold, but that did stop the use of Turbotax for estimating purposes.

[xmasbaby0]

@Kinghl_73   @TKerestes Do you think that income tax software should be kept off the market until all the forms YOU personally need are available?   Or is it possible that there are others out there who want to get started on their returns who do not need the retirement forms you want?  Do you know of any tax prep software companies that are keeping the tax prep software off the market until the IRS releases every form?  

We do not work for TurboTax and are not making excuses for the delay for the forms--we are telling you WHY they are delayed -- even professional software does not have all the forms-- and will not have them until the IRS has them ready, the programmers do their jobs, the IRS tests the software, and the IRS approves of the software.   Should the population of the U.S. wait for YOUR forms to be ready before they can start their returns?

[TKerestes]

To Xmasbaby0

I guess I have not been clear in making my point.  I am not  saying wait for all the forms to be final before sending out the software.  I have never said that.  All I have been saying is that in the past 20 years of using Turbotax, I have always been able to do an ESTIMATE run on what I might expect when I formally file after the tax year is completed.  I KNOW the ESTIMATE is just that an ESTIMATE.

This is the FIRST year I can remember that sections were not available because forms were not approved.  Therefore, I had to use the "forms" section to complete my estimate.

To say I think EVERYONE should wait just because of me is out of line.  Please re-read all the dialogue. 

[xmasbaby0]

It should not matter whether it is the government or not, incomplete software should not be sold. 

I agree 150% with Kinghl_73.

[TKerestes]

Xmasbaby0,

I see, good point.  I should have deleted that line from Kinghl_73.

I don't agree with "incomplete software should not be sold"..

[ljt96]

Glad for all the replies here and glad to know I can use Forms as a workaround.  I understand that this year has been especially difficult for the IRS having so many changes, and by extension all tax software makers.  However I agree with all of those who have said that I buy TT early every year so I can model my taxes before year end and I have always been able to do this. Of course every thing is estimated and subject to rule changes that come with final version.  I'm still not clear on why this year that has changed. I'm willing to understand TT may not have had many good options, but for sure I will not be buying the product ahead of time in the future as it has lost half its value to me.

[macuser_22]

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@ljt96 wrote:

Glad for all the replies here and glad to know I can use Forms as a workaround. 

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No.  Do NOT use the forms mode.    That was only temporary last November when this question was asked.   The current version supports the 1099-R in the interview.   The form mode enter will void the TurboTax accuracy guarantee is does  not do the same error checking and form linking that the interview does.

The suggestion  in this thread was only to get a rough estimate before the 1099-R interview was updated and should never be used for actual data entry.

[ronaldcox3883]

Just an observation that the data entered in Forms mode did transfer correctly to the to the interview mode. I am now running in interview mode, but do go back to form mode to verify against typing errors. 

[VolvoGirl]

@ronaldcox3883   Just an FYI - 

If you edit or review a 1099R it does not keep your answers from before but resets them to the defaults. Then you have to go through and answer them all again.   So be sure to go all the way to the end of the 1099R section.  They are right unless you go back.

[ljt96]

macuser_22 Thanks for your reply. Confused though about "The current version supports the 1099-R in the interview."  When I try to enter a 1099-R in the Interview IRA, 401K, Pension Withdrawls I still get the message that it isn't ready and to check back later and kicks me back to Wages  & Income page.  I did check to make sure version was up to date [number removed]).  

[macuser_22]

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@ljt96 wrote:

macuser_22 Thanks for your reply. Confused though about "The current version supports the 1099-R in the interview."  When I try to enter a 1099-R in the Interview IRA, 401K, Pension Withdrawls I still get the message that it isn't ready and to check back later and kicks me back to Wages  & Income page.  I did check to make sure version was up to date [number removed]).  

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Part of the 1099-R is not complete of you had a COVID-19 related distribution.

CARES Act retirement plan COVID-19 related distributions can be paid back over 3 years or the tax spread over 3 years.

That 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. There is no telling how long it will take the IRS to make the electronic form available. Typical it takes the IRS 2-4 weeks to release the electronic form specifications after the paper version is released. e-file providers must program from the electronic specifications.

The draft paper form 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-...