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

[DC_33]

@richpatrie 

yeah I had to pay for the first time ever last year, so I think I was under the assumption that it had added the first year to my 2020 taxes. But definitely makes sense now 

[DC_33]

@DoninGA 

Hmm interesting okay. Not sure what all changed then. Oh well, gotta pay up lol 

[salmajuma]

So if I'm not seeing the 1/3 on my 1040 line 5b, then it's not working right? I put all the correct amounts in and my refund didn't change by a dollar. That was suspicious. So I read through the posts, and expected to see the 1/3 amount on line 5b and it's not there. Any suggestions? 

It seems to have worked for some of you. 

[DoninGA]

@salmajuma Did you enter in the Retirement income section the same as shown in this procedure -

If you had a Covid-19 related distribution in 2020 and selected to spread the distribution over 3 years -

Answer No when asked if you received a Form 1099-R in 2021, if you did not receive the form

Answer Yes when asked if you took a disaster distribution

Answer Yes when asked if you took a Qualified 2020 Disaster Distribution

Check the box that this was a Coronavirus-related distribution reported in 2020

2020 Form 8915E, line 4, column b - Enter a 0

If the 2020 distribution was from an account that was Not an IRA

2020 Form 8915E Line 9 - Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 9

If the 2020 distribution was from an IRA account

2020 Form 8915E Line 17 -  Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 17

The 1/3 of the amount from the 2020 distribution will be entered on the 2021 Form 1040 Line 4b if from an IRA or on Line 5b if from a retirement plan other than an IRA

[salmajuma]

Yes --- said no, Yes to 2020 relief, line 17 from my previous year, I walked through all that. Deleted it all and tried again. I logged off, did other things in my deductions, came back and walked through the form again and still the refund amount doesn't change and when I review the 1040, line 5b is blank. 

Feels like a bug. 

[cjob]

@salmajuma 

Did you have any repayments in 2020 or 2021?  That could offset the 1/3 inclusion.

[chrawr]

Hi @DoninGA,

Thanks for your helpful post.  I took a Covid withdrawal for 100,000 from my 401K, and opted to pay the taxes over three years.  I followed your instructions, but when I look at my 2020 8915E, Line 4 column b reads 100,000.

So in TurboTax for this year, I entered 100,000 where it says 2020 Form 8915E, line 4, column b, and where it says 2020 Form 8915E, line 9, I put 33,333.

When I get to the page that says "Your final numbers", my 2021 Total Income only shows what I made from my job, it does not include the 33,333.

That is why I am writing this post.  Did I make a mistake somewhere?  Why isn't the 33,333 added to my Total Income on "Your final numbers" page?

[cjob]

@chrawr 

Did you put the 33,333 on both line 9 input fields?

[Cyag84]

Called TT this morning and now the 8915-F that was supposed to be available today won’t be available until 3/31 guess we all just have to be patient. I was confused when it was asking for 2020 8195-E info too and it threw my taxes out of wack and hitting me with the penalty. Hopefully this will save you all a call. 

[DoninGA]

@chrawr 

Go back to the Retirement income section -

For the 2020 Form 8915E, line 4, column b remove the $100,000 and enter a 0

2020 Form 8915E Line 9 - Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 9

Continue through that section until it completes.

Then go to Federal Review.  If it completes without error then look at your Form 1040 Line 4b to see if it has changed to $33,333

Using the online editions -

You can view your Form 1040 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

[DoninGA]

@Cyag84 

The TurboTax online editions were updated in the early evening of 03/23 for the Form 8915-F

The TurboTax desktop CD/Download editions have a software update on 03/24 that includes the Form 8915-F

[chrawr]

@DoninGA, @cjob 

Thanks.  I was missing one of the line 9 inputs.  Regarding your instructions, I'm a bit confused.  On my 2020 Tax form 8915E, line 4 column b says 100,000 - why do I enter "0" on TurboTax this year where it says 2020 Form 8915E, line 4, column b?

[salmajuma]

@cjob and @DoninGA 

Nope (and thanks for your help)

-  just this distribution over 3 years. I tried all kinds of options, clicked everything and nothing changes the refund amount when working through this form. Sad, I waited all this time was so excited. I'll keep working on everything else (although it's already done, but I'm so anxious to file). 

S

[JW97]

I have used Turbo Tax for 8 or 9 years, but I'm struggling with this 8915-F. Do I have to add my 2020 1099 form from my original distribution? Something doesn't seem right; I am showing I owe a large amount of taxes that I know isn't correct. 

[DoninGA]

@chrawr I used the entry of a 0 since that is how mine is set up when I transferred the 2020 Form 8915-E to the 2021 return Form 8915-F.  Also noticed that by entering an amount other than 0 the program requires you to enter a FEMA disaster name and disaster code.  However, if you are or were not asked for the FEMA disaster information then go ahead and leave the$100,000.  Either way I do not believe it will affect reporting your 2020 distribution to the IRS.