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

[Anonymous]

@stscallen Chicken or the egg?  Lobbyist BUY influence? From whom?  The people that write the tax code!

Reforming the tax system is the answer, but then politicians wouldn't have an opaque method to use one of the most powerful tools to effect social engineering and political change known.

You think the problem is Intuit is making to much money?  LMAO 

Some how KPMG and Deloitte escape your ire?

The answer isn't making a website where the government does your taxes for you for free.  The answer is making a tax code where people know exactly what they are paying and can do it on a one page form.

[fanfare]

I have a copy of my mom's tax return from 1946.

It is one page with a lot of white space on the bottom.

The complexity of the Code now is well understood.

The IRS is on its knees and can't cope. IRS employees are quitting in the Great Resignation.

There's a backlog of 24 million tax returns.

Either the IRS gets four times larger, or the Tax Code is simplified considerably.

Guess which is going to happen.

Otherwise our tax system will collapse.

[rsalvado003]

TT is more likely calculating a 10% penalty (incorrectly). Once 8915-F becomes available in TT, 1/3 of your covid draw should be the only portion that is taxable with no penalies in 2021. No 1099 for 2021 since that was issued for 2020 and 1/3 of the amount reported on orig 1099 is simply flowing to the next 2 tax years.

[rsalvado003]

Very true. I have to admit I used to have this line of thinking. In reality, refund = tax free loan to the government. 

[rsalvado003]

10% penalty was waived on the full amount drawn for covid when you filed your 2020 return. You are simply spreading the taxable draw over a period of three years. 

[nettmann]

@rsalvado003 

I am wondering if you could just now file your 2021 tax return electronically Without including the not-yet-ready Form 8915-F, and With 1/3 of your 2020 disaster IRA or Retirement Withdrawal indicated on Line 4b or Line 5b of your Form 1040...! That way you technically owe/receive the correct amount of money to/from IRS...However, you maybe flagged for not submitting 8915-F...!!!

Now the question is does IRS have enough manpower to flag you for this Non-Financial misbehavior...?! I am leaning to doubt that...!

[Anonymous]

@nettmann - Why?  How could that possibly be a good idea?

So you are wondering if you should violate IRS rules on the premise that they won't catch you?  I would not bet on that needing a human to catch it.  I'm pretty sure a computer can catch it and then put it in a stack of returns to be manually reviewed.

" The basic rule is that the IRS can audit for three years after you file, but there are many exceptions that give the IRS six years or longer. For example, the three years is doubled to six if you omitted more than 25% of your income. This 25% rule can apply to tax basis too."

[lidjame]

Just got off the phone with TT support and the answer first was 3/17 then "let me check" and the 3/31 answer was returned.  So that's too bad. 

@Anonymous it seems you are helpful to some but really want to express your own opinions on others, but yet criticize people for doing the same.  It's too bad your credibility is ruined when your critical of others.  You seem like a intelligent and helpful person otherwise.  Maybe just be nice you add value and help those seeking it, don't ruin it by being a jerk sometimes.

[kshea22]

Yea, I was SO sick of waiting and just feeling like the time frame was totally ridiculous. Easy solution, I went over to TaxSlayer and filed same-day. They've had this form available for weeks 🙂

[medic2149]

So H&R block is lying to you and everyone else.  I did my taxes last Saturday using their software and there was no mention of form 8915f.  Then last night I logged into my account to see if the form was available.  I was shocked when they asked the question about the distribution, but then they wanted me to pay a tax pro $90 to finish my return.  If you don't agree to the fee you cant finish your taxes as it doesn't allow you to fil out that form yourself.

[medic2149]

that form isnt available for h&r block either, they want you to pay their tax pro $90 to finish your taxes for you.

[TravisTractor]

@medic2149 @Anonymous 

Mike - See I was right about the H&R Block money grab?

"wanted me to pay a tax pro $90 to finish my return"

They don't have the form, they pretend to have the form and then suggest you pay $90 to complete.

[Charliesal7]

After following and posting in this thread for weeks I got impatient and filed my taxes with Taxslayer. It is not as good as TT. Much harder to use. But they did have the 8915-F form. TT, I will never understand why you have ignored so many people asking the same question. If other smaller companies can integrate the form in their system you should be able to as well. Or at least respond to this thread.  

[cjob]

@TravisTractor @medic2149 

How surprising.  Not. 

TT is still the best service out there.  

[Hessy1]

The form is not available as of today (2/23/2022). I wish there was a projected date when it would be available for filing.