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Level 2

Question

When will form 8915-E be available? I would like to file.

Forum|Forum|5 years ago
February 24, 2021
7 replies
0 views

No text available

TurboTax Self Employed Online

macuser_22

Alumni - Champ

The TurboTax 8915-E should be available on Feb. 25 (pending IRS approval by then). Updates are usually at night so check on the 26th.

See the forms availability list:
https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-personal-tax-products/00/26224

The IRS just finalized the form on Feb 11. TurboTax must now submit their 8915-E software to the IRS for testing to be sure that both TurboTax and the IRS e-file computer are compatible. That process usually takes the IRS 2-3 weeks for approval to release the new form to the public.

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-when-i-withdrew-fund-during-covid-form-8915-e/01/1842324
The TurboTax 8915-E should be available on Feb. 25 (pending IRS approval by then). Updates are usually at night so check on the 26th.

See the forms availability list:
https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-personal-tax-products/00/26224

The IRS just finalized the form on Feb 11. TurboTax must now submit their 8915-E software to the IRS for testing to be sure that both TurboTax and the IRS e-file computer are compatible. That process usually takes the IRS 2-3 weeks for approval to release the new form to the public.

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-when-i-withdrew-fund-during-covid-form-8915-e/01/1842324

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

redskin13808

Level 4

Is the form ready?

LaVicke

Level 2

I’m going to assume you tried this:

https://www.google.com/amp/s/ttlc.intuit.com/community/state-taxes/help/can-i-file-my-federal-taxes-now-and-skip-my-state-for-later/00/26250/amp

super helpful! Will will try this! Interesting thing is I already received my federal refund. I am using the downloaded windows system and it was giving me that error. I will try deleting the state and entering the info in like the article suggests!

fz1dm5

Level 3

I was able to use form 8915-E today, however when I get into my State (MI) and do a review I get this message:

"Pension Deduction Worksheet: Federal Amount , We're still working on updates related to retirements distributions that qualify for disaster or COVID relief. You can keep working on your return and we'll remove this message when ready"

When will this message be removed?

Thanks

Mark

NYS Cruiser

Level 3

I am getting the same exact message and Turbo Tax just put out that the form is ready..Amazing,,

kyanda

Level 2

Where do you find the form?

LaVicke

Level 2

It’s updated and available now though I am still getting a filing error.

macuser_22

Alumni - Champ

@LaVicke wrote:

It’s updated and available now though I am still getting a filing error.

What type of error?

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

fz1dm5

Level 3

8915-E works for me now but getting error in Michigan review:

Dorothy525m

Level 2

I am still getting the michigan error today as well.

fz1dm5

Level 3

I am also still getting this Michigan Review error related to disaster recovery claims. It is saying the amount is not correct but it is in fact correct and re-entering the same correct number does not fix it. I did do a software update prior to trying it again.

MasterAmbriz_2021

Level 2

How do I know if the updated/approved 8915-E is now in the updated TurboTax program? And how do I use it? where do I go?

DawnC

Level 15

Form 8915-E is updated in TurboTax now. You can apply the relief provisions of Form 8915-E, by entering your retirement income on Form 1099-R. After you enter the 1099-R, you will be asked if this was a covid related distribution. Once you answer YES, TurboTax will ask you some follow-up questions, and then fill out and attached Form 8915-E to your tax return.

You qualify if:

You, your spouse, or your dependent are diagnosed with COVID-19
You experience adverse financial consequences as a result of being quarantined, furloughed, or laid off
You had work hours reduced to COVID-19
You’re unable to work due to child care closure or hour reduction

The early withdrawal penalty will be waived. The distribution would be taxed over 2020, 2021, and 2022. You’ll have that time to pay back the funds you withdrew, without the amount impacting that year’s cap on contributions, and if you pay back the amount within that time, you’ll be able to claim a refund on those taxes. @MasterAmbriz_2021

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kivro

Level 2

That's not working. the form is NOT fixed. I need the exact clickety click to enter so that the 1099R already reported to the IRS is zeroed out on the 8915-E line 18 because I repaid the distribution in time. Nothing I try is working and I qualify for the waiver.

rashad530

Level 2

I see it is there but only if you choose it was a Covid-19 related and not choose it was a qualified disaster.

DonMcJr

Level 2

The federal is complete and you can file the federal...just revisit the 401k part and answer the questions. As for the state they still haven't fixed that for Michigan...

rashad530

Level 2

My Covid distribution from my 401k was for $20,000. How do I know that TurboTax is only claiming 1/3 of it for this year? Based on my return I feel like all $20,000 is being claimed this year.

macuser_22

Alumni - Champ

@rashad530 wrote:

My Covid distribution from my 401k was for $20,000. How do I know that TurboTax is only claiming 1/3 of it for this year? Based on my return I feel like all $20,000 is being claimed this year.

Look at the 1040 form line 5b.

For the calculations look at the 8915-E form.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**