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

[macuser_22]

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@Raiden2a wrote:

Do you guys know once we can file with the 8915-F; can we pay the remaining 2/3s in 2022 filing year instead of waiting for the final 1/3 in 2023 filing year?

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Yes, you can pay it all back if you prefer.

[BarryGraham]

Is it built into the new form to allow you to do that? There would need to be a mechanism for specifying that you are doing this.

[nettmann]

@Raiden2a 

I don't think you can do that...! From your statement I assume you receive your disaster fund in 2021. You can either pay tax on the full payment you received in 2021,or pay taxes on 1/3 of when you file your 2021 return. If you go latter, then you have to pay tax on the second 1/3 in 2022 and the last 1/3 in 2023. You cannot pay taxes on the 2/3 in 2022...!

[fanfare]

Exception to the 60-day repayment rule: you may pay back part or all of your COVID distribution any time within the three year period.

If you do it  before you file your 2021 tax return. it reduces the taxable amount of your distribution.

Paying  2/3  back now, your extra taxable amount is zero for 2021 and for  2022.

You still have to report this.

if you pay back 3/3rds  now you'd have to amend your 2020 tax return.

[nettmann]

If you amend your tax return for any reasons would you make yourself potentially more vulnerable to get audited by IRS..?

[cjob]

@Raiden2a 

Simplest way is to pay the extra 1/3 as another estimated payment with your tax return when you file.  Then request on the return that the excess payment not be refunded but carried over to the following year.  That way the IRS has it paid as 1/3, 1/3, 1/3 and you are able to pay it all a year early.  Although why anyone would want to pay a tax before it is due, I don't quite understand....

[BarryGraham]

Calling people names is not necessary.

That having been said, I also love TT. Criticizing it doesn't mean we don't love it. As paying customers we're entitled to call out shortcomings.

[cjob]

@nettmann 

I don't think there is any real way to answer that question.  The selection of returns for audit by the IRS is a rather complex process.  There isn't one simple reason that it happens.  

[Anonymous]

@juggygales Ok, Ill tell you why.  I think it shows a lack of class to come to a companies website and use THEIR resources to drive their own business away.  That's like going to some ones house for a party and insulting the host.

AND I think it jeopardizes these forums, a place where most of us come to discuss and help each other out with their taxes.  I like the forum, it helps me do my taxes, using the product I have chosen for the job.  I don't want some senior VP saying, "shut the forum down, they can just look at our wonderful FAQ, or call in."

If you don't like TurboTax go on social media and say something, not here.  This thread should be a dozen posts long, tops.

The way some people are acting here is a symptom of an entitlement mentality.  If it's not in the constitution it is not a right.  If you don't like the way they run their business and/or it doesn't suit your needs, do the right thing.  Shut your yap and go do your taxes some other way.  If you want to bad mouth and drive away business, go somewhere else and have at it.

Lastly, take some personal responsibility.  It is not Intuits fault that the IRS code is byzantine and that requires a billion dollar tax preparation industry to navigate.  It is not their fault that the IRS waited until 5 weeks after filing season started to release a form that is important to you.  It is not their fault that you put yourself in a fairly complex tax situation that apparently most people here do not fully understand.   It is not their fault if you over withheld because of lack of planning or lack of understanding, and want your over payment "right now."

[BarryGraham]

Nobody is going to come to this community unless they are registered TurboTax tax users.  Giving feedback and suggestions for improvements is not going to drive away business. It's actually one of the reasons the community exists. Giving the feedback on social media is far more harmful than giving it here.  It's not "entitled" to want to file your tax return when it's ready to be filed except for one form that we have no control over.

[Anonymous]

@BarryGraham - Agreed!

"I am NEVER going to use them again." 

"I just did my taxes on XYZ.COM you should check it out."

"When is this going to be done? because I need my refund, they suck!"

That is not using the forum to help others, that is using the forum to whip up malcontent and add to stress levels of people using the product.

I don't care if they are harmed or not. I f they fold tomorrow that is Intuits problem.  Don't come here and use their resources to drive business away, that's a no class, entitled move.

Picket in front of their headquarters, that would be entertaining.

[BarryGraham]

You are right, I have to admit with several hundred comments, I didn't see those. You are right, that is unacceptable behavior which I hope I didn't engage in.

[Jsspam]

There’s no excuse from turbo tax on this. It’s indefensible. They should have it done.

This Mike guy should be blocked. All he is doing is trolling for turbotax and being condescending. He wants to talk about class when he has shown none.

[cjob]

@Anonymous 

I agree whole-heartedly.  There are way too many people on this site doing nothing but shilling for other companies or just being trolls to stir stuff up.  And the number of people supposedly using other software yet still coming on this site to try to get free tax help is pretty appalling.  I'm surprised TT doesn't monitor it in some way and block them all.

[snorkerelli]

Ok, I've really had enough of the comments by the "decent" people on the site - you've really gone to far sticking up for TT and are coming off very naive.  TT is a multi-billion dollar organization that I have paid at least 2K of my money to over the last 10 years.  They are not an individual that is going to get their feelings hurt by people giving negative reviews of their product.  In fact, negative reviews are probably the best thing you can do to make their products better.  They pay a lot of money for research to guide their products - this is a forum that they should absolutely listen too.  Why do you think they hammer you with their ridiculous badges and fake little awards for participating on their chat forum?  To get praise that everything is perfect and they are bringing each of us to a world of tax bliss with their product?  That's not what they are mining for.  My beef is that they are being very lazy about making this 8915-F form available.  This is the only thing keeping me from filing my taxes.  Been waiting weeks now and will likely need to wait several more.  Additionally, their customer service is pathetic.  They can't answer any difficult or nuanced questions.  They promise "expert" support but really fail to deliver when you need it.  Most people will keep paying for this because it offers some sense of fake security but it's really just a mirage - a promise that they don't deliver.  So enough of your defense of this multi billion dollar organization that is offering a product that really doesn't deliver when you truly need them.  They need to know where they are deficient so they can improve their product.  Smiles, courtesy and rainbows may be necessary when dealing with other people, but not with a multibillion dollar business.  So enough of your fake concern for TT.  They can handle it, I promise you.