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.

[DoninGA]

@nolanwittrock Changed my distribution entry to a code 1 in box 7.  Changed to an IRA.  All answers remained the same except selected that I did not track non-deductible IRA contributions.  

Received the same results.  The distribution amount is entered on Form 1040 Line 4a and on Line 4b there is a 0 (zero) for the taxable amount.

[nolanwittrock]

@DoninGA 

Why would it not decrease the taxable amount of the distribution? If you have repaid your distribution, you would owe zero tax. So changing that option, for example, should make a huge difference in the taxable amount. Maybe I am not understanding your comment.

The amount on 1040 Schedule 2 line 6 is $95. Not sure where that is coming from.

[DoninGA]

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@nolanwittrock wrote:

@DoninGA 

Why would it not decrease the taxable amount of the distribution? If you have repaid your distribution, you would owe zero tax. So changing that option, for example, should make a huge difference in the taxable amount. Maybe I am not understanding your comment.

The amount on 1040 Schedule 2 line 6 is $95. Not sure where that is coming from.

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It does make a difference.  Removing the taxable amount of the distribution by indicating you paid it all back leaves a 0 amount on line 4b.

Any federal income taxes withheld and reported in box 4 of the 1099-R is entered as a tax payment on Form 1400 Line 25b, regardless if you paid the distribution back or not.

Schedule 2 Line 6 is the 10% early distribution penalty which also should not be entered if this was a Covid-19 distribution.

It sure looks like you will need to clear the return and start over.

[macuser_22]

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@nolanwittrock wrote:

@DoninGA 

Why would it not decrease the taxable amount of the distribution? If you have repaid your distribution, you would owe zero tax. So changing that option, for example, should make a huge difference in the taxable amount. Maybe I am not understanding your comment.

The amount on 1040 Schedule 2 line 6 is $95. Not sure where that is coming from.

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That is the code 1 10% penalty.

Are you saying that you received a 2020 distribution and returned the entire amount in 2020 to the same account?

If that  is the case then it is NOT a COVID related distribution requiring the 8915-E form, it is a simple rollover.

Delete the 1099-R and re-enter then answer the "What did you do with the money question" with you moved the money to another (or same) account.

Then the 1040 line  4 or 5 (depending of it is an IRA or not) will have a zero taxable amount and the word ROLLOVER next to it.

[nolanwittrock]

@macuser_22 

@DoninGA 

Ok let me give you my exact scenario.

I took $98,008 as a Covid distribution.  I already paid 1/3 of that back. I want to spread the tax out of 3 years, which means that, as I understand it, I should owe $0 in tax on that distribution for 2020.

On my 1040 line 4, it shows IRA distributions of $98,008. Line 4b says $92,008.  Not sure where that number is coming from.

[ChicagoMade]

I just tried to go on H&R Block and file and they wont have the 8915-E form till 3/4/2021 smh

[DoninGA]

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@nolanwittrock wrote:

@macuser_22 

@DoninGA 

Ok let me give you my exact scenario.

I took $98,008 as a Covid distribution.  I already paid 1/3 of that back. I want to spread the tax out of 3 years, which means that, as I understand it, I should owe $0 in tax on that distribution for 2020.

On my 1040 line 4, it shows IRA distributions of $98,008. Line 4b says $92,008.  Not sure where that number is coming from.

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If you paid 1/3 of the $98,008 that would leave you a balance of $65,339.  Spreading the balance over 3 years would mean that $21,780 would be taxable in 2020, 2021 and 2022 tax returns.  Your Form 1040 should have $98,008 in Line 4a and $21,780 in Line 4b.

It does not, so either you entered something incorrectly or you need delete the Form 1099-R or clear the return and start over.

[nolanwittrock]

@DoninGA 

Double checked the following scenarios:

1. Said I paid back $32,669.45 (which is what I actually did)

2. Said I paid back the entire amount

3. Said I paid back $90,000 (Just a random number)

Under each of these scenarios, my 1040 preview says $92,008 on Line 4b. I've deleted the 1099-R many times, no luck.  I guess I need to start the entire return over.  My concern is that doing so still won't fix the bug.

[TravisTractor]

This software is a complete disaster I have been working since 8 AM and no luck getting past the Pensions/Annuities/IRAS Worksheet for NY State. The customer service is useless and they try really hard to get rid of you. I am mad as hell. I already bought the software from Costco for 72 dollars and then I was told to buy it directly from Turbo tax -$110. Still the same issue. This is annoying. I'm checking every box in the Pensions/Annuities/IRAS Worksheet  so I can submit it as as long as it goes through. I rather deal with a NY State tax auditor than some useless software or customer service.

[DoninGA]

@nolanwittrock I just went back through this again using your numbers.  What I posted before was not accurate.  I took a look at the Form 8915-E and it will show 0 for Line 4b since 1/3 of the distribution was already paid back.  The following years look like it will use the remainder of $65,339 as the taxable amount for the following tax years.

Checked both the desktop and online editions and both gave the same result. 

This still does not agree with anything you are seeing on your tax return.  So starting over is your only option.

[ajd878787]

I’d personally never buy the software for these reasons unless it provides some super heavy duty upgrades. 

If you find a way to click a specific box that solves the issue without adjusting the taxes owed or payed please let us know. I’ve played around with it myself with no luck. 

Next best thing is to submit without 8915-E and amend in a few weeks but that brings its own challenges - a route I do not wish to take. 

Whatever happens I will be saving this years PDF and saving it for next year to load into a new software provider I think. No point in paying top dollar while other more nimble companies now exist. 

[macuser_22]

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@nolanwittrock wrote:

@macuser_22 

@DoninGA 

Ok let me give you my exact scenario.

I took $98,008 as a Covid distribution.  I already paid 1/3 of that back. I want to spread the tax out of 3 years, which means that, as I understand it, I should owe $0 in tax on that distribution for 2020.

On my 1040 line 4, it shows IRA distributions of $98,008. Line 4b says $92,008.  Not sure where that number is coming from.

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This is what I get (my line 4b is $2669 because I replayed $30,000 not exactally 1/3)

[DoninGA]

@macuser_22 I just did the same on my Windows edition and received the exact same results as you.

When I entered exactly 1/3 as paid back got the 0 in 4b

[nolanwittrock]

@DoninGA 

@macuser_22 

Thank you guys for all your help on this.

Yeah, what you guys both put in looks right.  I'm expecting to see $0 in the 4b with my 1/3 paid back.  But something is glitched with mine (using online).

Unfortunately, it looks like I went too far through the system and it says "Once you register your tax return, or pay any TurboTax fees, we can no longer clear and start over" when I try to clear my return. 

So I'm not  sure what to do...

[DoninGA]

@nolanwittrock Contact TurboTax support and tell them that your online return is giving incorrect amounts on your Form 1040 due to the Form 8915-E which was just released yesterday and you need to clear your return and start over but you have already registered your edition.  They should be able to help you with getting the return cleared.

Use this website to contact TurboTax support during business hours - https://support.turbotax.intuit.com/contact/