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@Jenmacsher wrote:
What about form 8915E-T?
Form 8915-E was a 2020 tax form only and does not apply to 2021 tax.
@EbonyL122824 wrote:This form will be available for e-file on 03/03/2022. You can check the IRS forms availability here.
Is that a typo or is it really coming that much earlier? I did hear from someone else in the know that it might be here sooner rather than later.
Downloaded the update. The interview question now asks about the COVID-19 withdrawal but the form is still not ready. I owe, so I can wait, but still this is unacceptable for TT to not have this form ready by now.
this is **bleep** ridiculous! is it 3-3-22 (yestrerday) or 3-31-22???????? how hard is it to get this **bleep** form ready? Lets GOOOOOOO!!!!!!!!!!!!
Form is still not available. Perhaps they'll release the update later on today or on 3/31 as originally intended. Has anyone tried the form on the online version or Turbo tax? sometimes the online version is ahead of the PC/Mac software version.
For me it was already asking that question, nothing has changed.
I agree, this is completely unacceptable. Not only have I been using TurboTax for over a decade so part of what I pay for is having access to all of my prior years taxes, but like many others I already paid TurboTax for this years taxes and have them completed and ready to go with the exception of this form. Last year the IRS held my refund for months, and now TurboTax is doing it for them this year. At least the IRS paid me interest.
@Jillianrage Last year you filed one week early than today's date. IF you did it exactly the day the Form 8915-E was released last year. If your tax situation is complicated you can't expect to file on 01 Feb.
Its 3/4/22 and it is not there. get your heads out of your *** and get it done! the IRS should have been ready to roll in November 2021 and Turbo Tax should have been ready on tax opening day. If I told my boss I need two months to figure **** out, I would be fired!!!!
@Anonymous why are you defending turbo tax so much? It's like they have nudes of you that you don't want getting out there. What is the defense for these other companies to have it available but not turbo tax?
I just checked and it's not available. I've only ever used the online version. This is getting ridiculous. The IRS has had it available for over 2 weeks now.
The IRS reported that the form is now available electronically.
Why TurboTax takes so long to implement it is something illogical
I have a question that I don't think has been asked here yet and I think it's pretty important. Like most here, I took a 401(k) distribution in 2020 under the CARES Act and spread it over 3 years, as allowed. I do see on my tax submission that I only paid income taxes on 1/3 of that distribution on my 2020 taxes, but it appears as if all the federal/state taxes withheld from that withdrawal (by T. Rowe Price when I took the withdrawal) were applied to my 2020 tax submission on Turbo Tax. I am talking about the taxes withheld from the actual 401(k) withdrawal (by T. Rowe Price in my case) to be applied to my final income tax submission. As in, if in fact the distribution was spread over 3 years, but the taxes withheld on that 401(k) withdrawal were ALL applied in 2020, it's going to look real ugly come tax collection time. Does anyone know if this is what was done? I don't exactly remember an option to spread BOTH the withdrawal and the taxes withheld on that withdrawal over 3 years, it only offered the option to spread the actual withdrawal. That means, if you had $15k held for taxes from your 401(k) withdrawal, but all $15k was applied to 2020, rather than spread over 3 years, Years 2 and 3 are going to get hit much harder than Year 1. Am I being clear as mud?
@tjthomson You have been perfectly clear and you are correct. The 1/3 of the distribution will be added to your 2021 tax return as ordinary income. The federal taxes withheld on the 2020 Form 1099-R were all included as a tax payment on your 2020 federal tax return, they were not split like the distribution.
Taxes paid/withheld in a tax year are all applied against that tax year to the extent of the tax liability for that year. Any excess is available to be applied to the following tax year or refunded as selected on the return. There is nothing in the stimulus that would alter that.
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