When will Form 8915-E be available? TurboTax indicates "IRS instructions related to disaster distributions weren't ready in time for this release." It's been weeks now.

[Jolyzara]

The online version has a glitch and won't let you split the tax over three years. For example... 

• Refund before distribution was inputted was $5000.
• Distribution inputed, (1/3 of the COVID distribution was repaid (should be $0 this tax year if split over three years). Refund was reduced to $1500.

So I played with the numbers... I said all of the distribution was paid back. Should result in $0 tax. No change in refund (still $1500).

Not sure the issue but the numbers aren't adding up.

[curtishuggins1]

I am also having this same issue. 

[SamS1]

1/3 of your Covid related distribution would be included in this year's income.  So if you indicated $6000 was Covid related distribution, $2000 would be included income with your 2020, 2021, 2022 tax returns. The amount of tax is calculated separately each year when you complete your tax return for 2020, 2021, 2022..  The 8915-E will be used for penalty relief from early retirement plan distributions and include the option to spread the distribution income over 3 years.  This may be a good option if the entire distribution is pushing you into a higher marginal tax bracket in 2020.  You may end up paying less tax if you spread the distribution over the 3 years.

If you are having problems with the calculation, trying deleting the 1099R and re-entering it.   After you have logged in and are in your return in TurboTax Online:

• Go to Search at the top of the screen.
• Enter Form 1099-R in the search box. 
• You will see a Jump To function that will take you to the 1099-R input screens. 
• There delete the 1099R in question by clicking on the trash can next to the form
• Then add a new 1099R and manually enter your 1099R.

At the financial services screens, click "Change how I enter my form" then "Type it myself"

Make sure and check the Covid Distribution box in Uncommon Situations when you re-enter.

[curtishuggins1]

What about the pension worksheet screen for NYS filers. It is impossible to get passed that screen to e-file.

[PA1989]

Sam,

when I re-enter my 1099R, do I enter all of the withdrawal of 33% of it ?

[DoninGA]

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@PA1989 wrote:

Sam,

when I re-enter my 1099R, do I enter all of the withdrawal of 33% of it ?

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When you enter the Form 1099-R you enter it exactly as received.  The program will adjusted the taxable amount of the distribution for 2020 when you answer the Covid-19 related questions after the 1099-R is entered.

[PA1989]

Great.  Thank you.  I hope to see the accessible 8915 soon!

[PA1989]

Do you know if there is a certain version of TT that will allow me to get the 8915 form or should it come up via the prompts about covid withdraw after entering the 1099R ?

[DoninGA]

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@PA1989 wrote:

Do you know if there is a certain version of TT that will allow me to get the 8915 form or should it come up via the prompts about covid withdraw after entering the 1099R ?

---

All of the TurboTax online web-based editions have been updated for the Form 8915-E, Qualified 2020 Disaster Retirement Plan Distributions and Repayments.

None of the TurboTax desktop CD/Download software editions have not had the Updates available today.  Maybe later in the day or tomorrow the Updates will be available to download.

[nolanwittrock]

@Sam 

Thank you for this information.

Unfortunately, TurboxTax is still not calculating the tax correctly. I have tried your method multiple times to no avail. 

Example - Say you took out the full $100k as a Covid-19 withdrawal and reported that amount on your 1099R. After you follow the Turbotax prompts to show that you qualify for the Covid-19 withdrawal, TurboTax removes the 10% penalty. However, it then shows that you owe tax on the entire $100k no matter what options you choose. If you say that you want to spread the tax over 3 years, the amount TurboTax says you owe in tax does not change. Even if you say you already paid back the entire $100k, the amount TurboTax says you owe does not change.

Definitely a glitch in the system right now. Hopefully corrected soon.

[Uler12989]

how did you excess the form?

[ajd878787]

Agree on the NYS issue. Form 8915-E seems to be working for me, until I try to file. It identifies as issue with my State (New York) filing, reflected as such:

"Check This Entry

Pension/Annuities/IRA Worksheet: Txble Pens/IRA(Reg Dist) We're still working on updates related to Retirement Distributions that qualify for disaster or covid relief. You can keep working on your return and we'll remove this message when it's ready."

If I try to file, it says I can Mail only (no e-file). In summary, I still cannot file correctly. What a mess.

[ChicagoMade]

@ajd878787 I'm getting same issue when doing a Michigan return

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

[Jolyzara]

It worked for me after you delete the 1099-R and start over. Hope it does for you as well!

[Anonymous]

Did not work for me, still getting the NYS entry issue...