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

[kevdawg40]

I'm in the same boat as many other. I've used Turbotax for 10 years. Waiting until 3/31 is absurd. I've played around with FreeTaxUSA and got similar numbers. I also took a Covid disaster disbursement in 2020. Adding that 1/3 really knocks down my refund but the nice thing with FreeTaxUSA is that you can play with the number and see how paying back a certain amount changes your refund. Before claiming the 1/3 distribution, I was getting about 10 k back. After putting in the 8915 F 1/3 amount, it dropped to just over 2k. But I was able to play around with what ifs, like what if i pay back 5 k to my 403b or 1 k or 10 k (if your plan allows paying back). By paying back 5k to my 403b, it adds 6 k to my refund, netting 1 k and putting 5 k back into my retirement. I also checked HR Block and their site is now saying the 8915 f isn't available for another 2 weeks (I believe it is 2/27 now). Their date keeps getting pushed back. Argghh!! In addition, HR Block online is requiring you to add 'Tax Pro' to your order, tacking on $50 to your order. This feature requires a tax pro to fill out that section of your return...it wouldn't let me put the numbers in myself. It's pretty basic, so that's a money grab to me. Now it's either trust FreeTaxUSA and just file, wait until who knows when on HR Block and pay the added feeds or waiting until 3/31 on TT. Not happy!

[asbnj]

The form 8915-F has been released on the IRS website as on 2/2/22. Now we wait for Turbo Tax, who told me it won't be ready until 3/31. I spent an hour today with a support rep who has no idea what I was even talking about. They kept telling me to enter my 1099, even after I said it was a distribution in 2020 that is partially paid back so I don't have a 1099.  They had me second-guessing myself and then I decided this rep literally had no idea what they were doing. Last year TT didn't have the information for the 3-year payout correctly set up in my state form. Had to Amend after they fixed it post filing date. Spent hours on the phone and sharing my screen with someone. I just wish Turbo Tax could get their act together. 

[asbnj]

The IRS didn't get it ready for the same reason they are still holding over 2 million amended returns (mine included, they owe us almost $1,000 I wonder if we will get interest lol). Because it's the government. And oh yeah the excuse dujour, "Covid tho".

[Jedi4380]

@asbnj Your state should have rejected the return. I was in the same boat and NY almost immediately rejected my return and TT was like “oops our bad the form wasn’t ready” and I was able to e-file a few weeks later when it was. The IRS took a very long time to process my return though and issued my refund very late last year and I did get an interest check not too long ago. But it has to be filed first I believe and the delay has to be over a certain amount of time in processing. 

[asbnj]

The state issue was for 2020. I spent hours on the phone with "experts" from Turbo Tax, they couldn't figure out why it wasn't calculating properly. It wasn't just a missing form like this year. I just feel like TT doesn't have their act together.

[Pavlentiy007]

@Chris1976 

The reason why you will owe this year and got a hefty return back last year is because you probably paid some taxes on your withdrawal.  Since you paid 10% or even 20% and chose to spread across 3 years... claimed one third of the amount, the taxes you would have paid would have been far more than owed for a third of the amount taken out. I'm having to deal with the same issue

[Macfarmm]

@DianeW When we are filling out an 8915F form, does anyone know if we have to use our 1099R from 2020 or will a financial institution provide us a new one? My husband and I did the 3 year option so just a little confused how to enter it. Thanks!

[kevdawg40]

As FreetaxUSA is my only reference/only site I’ve used that currently has form 8915 f, take this for what it’s worth. It asks similar questions as TurboTax and unless you took an additional disbursement in 2021, you won’t have a 1099-r for last year. It will ask if you took a COVID-related disbursement prior to 2021 and you enter ‘yes’ and then you’ll answer a few questions that will lead up to entering the same 1/3 of disbursement you entered last year. That’s it. No 1099 needed. Hope that helps.

[amok]

Forget TurboTax apparently they won't even have the form 8915 F until 2 weeks before the filing deadline on April 15th . I'm trying out the freetaxUSA as recommended by others. Was shocked to find out I can actually view a PDF of my return before filing that helps a lot . Free Tax USA is not perfect though. Well either that or I just don't know how to fix the problem which is WHERE and HOW do I report in Free TAX or Even Turbo Tax the Federal tax I had withheld from my 401k Corona Distribution back in 2020? I had received $90K , elected to report and pay tax on it over 3 years. So 2020 I reported $30K and paid $18K tax. This year 2021 I will report the 2nd $30K and it is on F 8915 but "WHERE AND HOW DO I REPORT OR GET CREDIT FOR THE $6K for this year that I had withheld in 2020 a total of $18K, $6k for 2020, $6K for 2021 and $6K for 2022? It's late I'm tired. This may not make sense. HELP . I tried adding another 1099 R with and just put distribution of $1. and Tax withheld of $6K but system did not like it.

[fanfare]

@amok   

This is the thread for complaining about lateness of Form 8915-F.

If you have a tax question you should start your own thread, maybe on the FreeTaxUSA support.

Anyway,

you can divide the distribution by 3.0, but you can't divide your tax withholding by 3.0.

If you reported 6K on 2020 tax return, and IRS approved your tax return as submitted ( i.e. did not correct that error for you ),

you'll have to amend 2020 to show withholding of $18k.

[Stoney09]

Everyone just file, and the IRS can bill us later, this is ridiculous, 1st off it's our money in the 401k so it shouldn't be this complicated.

[Wrusprod]

So I have seen 3-31-22. Turbotax is giving me $30 off filing if done before 2-28-22. Hmmm

[Anonymous]

@Stoney09 - If you are planning on repaying 1/3 or more you could safely file and do an amended return.  If you need to pay tax on the 1/3rd you are not repaying you could file anyway and make an estimated payment.  It wouldn't be hard, you just do your taxes completely and then add in $33,333 (or whatever) dummy income to see how the additional tax is.  Then remove dummy income, file, send estimated payment, and then file amended when the form is available.

Or just wait like normal people do when they have complicated taxes.  I don't even get all of my income statements until 15 March every year anyway.  Do I like it , no.  But that is when K-1s are due to be filed.

If you want easy and fast taxes don't take out a disaster withdrawal against your pre-tax savings with a pro rata period of three years.  It doesn't even sound simple when typing it out.

[Anonymous]

@amok  - So the Free Tax Pays Trolls to ho to Intuit . com is not perfect?

Look man, I get it,  you want to finish it up.  I hate the American tax system, is that not the REAL issue here?

Do not put yourself in a complicated tax situation if you need a speedy return the next tax year.

My advice to everyone here.  1) file for an extension 2) check back one a week until form is ready  3) don't worry about it

Interesting that all the trolls were lying and Free Tax is a Scam .com really doesn't handle the form right now either.

[Anonymous]

@DianeW I think it will depend on how the form is brought into Turbo Tax, but I don't see why.  The income was already reported on 1099, so you are just tracking it and carrying the income forward with a different version of the 8915 each year.  

If tax preparation software asks you for a 1099 to trigger the logic to go down that path, that would be the only reason  I can't see how the IRS cares about the 2020 1099 once its been reported.  Your financial institution most certainly will not generate a new one.