When will the 2021 8915-f form be available on Turbo Tax to efile?

[TravisTractor]

Word on the street is that if form 8915-F is available on 3/31/2022 you will be able to file with the state on July 4th.

[jaxterra]

I paid taxes when I took the cares act and divided the amount I took form my 401k for 3 years but I don't see on the 8915-e if I divided the taxes also I can't remember.  Is there a way to tell only see the total amount I took divided by 3 on the 8915-e trying to figure this out before I file the 8915-f. 

[DoninGA]

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@jaxterra wrote:

I paid taxes when I took the cares act and divided the amount I took form my 401k for 3 years but I don't see on the 8915-e if I divided the taxes also I can't remember.  Is there a way to tell only see the total amount I took divided by 3 on the 8915-e trying to figure this out before I file the 8915-f. 

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The total amount of the federal taxes paid on the 2020 distribution were entered on the 2020 federal tax return.  There was no dividing of the federal taxes paid.

[jaxterra]

We'll dang I couldn't remember that'll hurt my return.

thanks

[defray]

 If you opted to divide the taxes into three, then you only paid one third of the taxes and you have to pay the remaining one third this year and next year.  The  one third amount should be listed there somewhere on your 8915 e  form for  2020 (last year). Said amount should also be listed on your 1040. Please verify, but I am fairly certain.

[jaxterra]

Thanks not sure if I had an option but I claimed all the taxes I paid last year. On 1040 line 25 B (form 1099) Federal tax withheld was the total amount I paid. 

[Kalianamarie]

@jaxterra 

on the 8915-e line 6 shows the total amount of your distribution and line 11 shows the amount applied to your 2020 return.

[KoDuB]

Idiot question...  and I suspect the answer is no, but...

Let us suppose that TT and the states finally get 8915-F programmed into their systems and we can file our 2021 taxes.  Is it possible to include the one third amount for 2021 + the one third amount for 2022 on the 2021 filing?

You can see where I am going with this.  I would rather pay the taxes for the remaining two thirds amount on this year's filing rather than go through this nightmare next year.  I have heard that the 8915-F is to be a "forever" form, but while I don't want to sound cynical...  well, maybe best to leave my thoughts unsaid.  🙂

[Potsey]

I'm no tax expert but the reason you want the 8915-"x" is to avoid the early withdrawal penalties one would normally pay for an early withdrawal.  I have no idea what the other implications would be, but I think they wouldn't be good.

The sad reality is this form has been coming out for at least 4 to 6 years (assuming A-F).  Now obviously different areas are covered by different natural disasters and sadly they keep happening, but it's not like this is a whole new thing.  

Plus, I'm sure they are probably using Agile methods so they should have an idea when it's going to get done and have the flexibility to get it done being the time of year it is.  

Heck, they had enough money to buy commercial time at the Super Bowl... 

[fanfare]

"I'm sure they are probably using Agile methods"

That's pretty funny.

You need Form 8915-F to file an accurate and complete tax return.

Otherwise, expect delays in the processing of your tax return.

[Anonymous]

Yes you can pay it back faster, just not slower than 33.3...% a year.

[CBodin]

It appears the IRS released this form on February 4th, do you have an estimated date it will be available here?

Thank You!

[CBodin]

yes that's what mostly everyone on this thread is discussing.

[perry5255]

this form was approved by the IRS on 2/2/22 - when will Turbo Tax be updating their site????

[Anonymous]

Yes it has been 6 business days, we are all waiting.  At 10 to 14 business days I will become mildly concerned.