When will form 8915-E 2020 be available in turbo tax?

[rsaritzky]

I purchased the CD but did a digital download of the software - did not use the CD, used the subscription key included with the CD in the envelope

[Ctood1]

8915-E does not exist on the CD bought software and did not update anything since Monday.  All reference of 8915's in the forms is now missing. Can't file without it. 

[macuser_22]

It should be in the next desktop update., probably tomorrow.

[clarkm]

Yes the online version on the computer is working.  Yahoo!!!  The app is not working. 

[YolCru00]

Please remember add extra withholding from your paycheck for the subsequent years if you are spreading it over 3 years. You paid in all of the tax this year and you should calculate your estimated tax for the subsequent years so that you aren't surprised with a tax due balance next year. 

[Anona]

I have a Distribution Code of 1B in box 7 in 1099-R. I withdrew all these funds for Covid Distribution. TurboTax is not showing the Covid related questions. I have another 1099-R with Distribution Code 1 in box 7, for which TurboTax shows all Covid related questions. Please help me understand why Distribution Code of 1B wouldn't show Covid related questions in TurboTax.

[fionakitten14]

I still have not received the email confirming that the form is available. and for me too,  the last update I had was this past Monday.

It seems that many of us are experiencing the problem with not having the form updated into our various versions.

Very frustrating indeed.

[macuser_22]

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@Anona wrote:

I have a Distribution Code of 1B in box 7 in 1099-R. I withdrew all these funds for Covid Distribution. TurboTax is not showing the Covid related questions. I have another 1099-R with Distribution Code 1 in box 7, for which TurboTax shows all Covid related questions. Please help me understand why Distribution Code of 1B wouldn't show Covid related questions in TurboTax.

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I have already reported that to the Moderators to forward to the developers as a bug.

[macuser_22]

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@Anonymous wrote:

Hey everyone, I think I figured out why if you choose to spread out the payments some of us are getting a bigger refund in 2020.  While the taxable income is spread out over 3 years, the taxed amount is not.  So your taxable income goes down for 2020, but your taxes paid do not, as they do not spread over the 3 years.  This is great for 2020, but keep in mind this means your other two years likely won’t have taxes applied to the remainder of taxable income.  Make sure to account for this!  I recommend doing extra tax withholding for 2021 and 2022, if you’re opting to do the 3 year spread.

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Correct - any tax withholding is apposed to the tax year in which it was withheld.   That is part of the intent of the CARES act - give you 3 years to pay the tax and get a (partial) refund of taxes already paid.

[Anona]

@macuser_22 Thank you! When can I expect the bug to be resolved?

[kzigmant]

Code 1 means no known exception.

Check out: https://ttlc.intuit.com/community/forms/help/what-do-all-the-codes-in-box-7-of-the-1099-r-mean/00/26...

[Jacksmad81]

Just download and use the app. The TurboTax self employed app worked a treat and I filed both my returns with no issues. It waved the 10% penalty, and reported the taxable income as 33% of the distribution amount I took. Went from owing 4K to getting 5k back. 

[macuser_22]

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@Anona wrote:

@macuser_22 Thank you! When can I expect the bug to be resolved?

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No idea.  The more that report it to customer support the quicker.

There is no single published number because it changes contently depending on the nature of the call and agent availability. Following the link below will either give a current number for you to call or take your number for a callback.

(Note that phone support is for paying customers only. There is no phone support for Free Customers.)

Here is a TurboTax FAQ for contacting customer support.

https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number

There is no single published number because it changes contently depending on the nature of the call and agent availability. Following the link below will either give a current number for you to call or take your number for a callback.

(Note that phone support is for paying customers only. There is no phone support for Free Customers.)

Here is a TurboTax FAQ for contacting customer support.

https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number

[I3abyruth]

A group of us called our retirement associations, I was under the impression that the code should be 2 in distribution box 7 (withdrawal  with exemption) . We were all told that TIAA  was instructed by the IRS to use code 1 for Covid hardship withdrawals , therefore it was not an error / to be changed.  😭

[macuser_22]

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@I3abyruth wrote:

A group of us called our retirement associations, I was under the impression that the code should be 2 in distribution box 7 (withdrawal  with exemption) . We were all told that TIAA  was instructed by the IRS to use code 1 for Covid hardship withdrawals , therefore it was not an error / to be changed.  😭

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Code 1 is correct.  It is not up to the issuer of the 1099-R to determine if you qualify for a COVID related distribution that eliminates the penalty  - you must certify that yourself to the IRS on the 8915-E form - not everybody qualifies.