When will form 8915-E 2020 be available in turbo tax?

[richpatrie]

It's there. Go back to the 1099 and follow the steps. It will ask if the distribution was due to Covid. 

Took me awhile because I was looking for another form.

[sgascoig]

So would I be able to file my Federal return and hold off on my state return if that is the case that our state has not conformed yet to the new legislation?

[macuser_22]

Yes.  You can come back and file state later.

[notanaccountant1]

Hi there, I am having the same problem.  I am using the Deluxe and on the 1099 am not getting any questions about covid.

[macuser_22]

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@notanaccountant1 wrote:

Hi there, I am having the same problem.  I am using the Deluxe and on the 1099 am not getting any questions about covid.

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Are you using the online version or the desktop version?

[notanaccountant1]

Nevermind.  I deleted the entry (which had been entered 3 weeks ago) and re-entered it and seems to be working.

[notanaccountant1]

Ok, one more question.  We only got 390.00 on a debit card for the first stimulus and nothing for the second.  When I enter that information, it tells me my credit is 3210.  Isn't there money for qualifying children also?  What determines if they are qualifying??  My daughter turned 18 in Sept of 2020 and my son is currently 17.  They both live with only us full time.

Thanks!

[DoninGA]

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@notanaccountant1 wrote:

Ok, one more question.  We only got 390.00 on a debit card for the first stimulus and nothing for the second.  When I enter that information, it tells me my credit is 3210.  Isn't there money for qualifying children also?  What determines if they are qualifying??  My daughter turned 18 in Sept of 2020 and my son is currently 17.  They both live with only us full time.

Thanks!

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The Recovery Rebate Credit is only based on your 2020 federal tax return.  A dependent child age 17 or older in 2020 is not eligible for the credit on a 2020 tax return.

[notanaccountant1]

Well that's not cool.  17 years are just as expensive at 16 year olds.  

Thanks for the explanation.  Have a good night.

[DawnC]

When going through the stimulus questions, it sounds like you entered them correctly, $390 for the first one and $0 for the second one.  Only dependents that were 16 or younger as of Dec 31, 2020 qualify for a payment.  Based on their ages, the credit amount of $3210 would be correct.   I am assuming that your son was already 17 on 12/31/20.   @notanaccountant1

[macuser_22]

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@notanaccountant1 wrote:

Well that's not cool.  17 years are just as expensive at 16 year olds.  

Thanks for the explanation.  Have a good night.

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It is not based on expense.  That is the cut-off age for Child tax credit that Congress established when  they created the credit in 1997 and has not changed since.    The amount of the credit has been adjusted because of inflation, but the rules have not.

[robbyja]

If they live with you part time, I presume they work to at least in part, support themselves. 

Consider letting them file as independents.  Do the math.

[jonbo]

Just installed the latest updates for TurboTax 2020 Deluxe on March 8, 2021 and Form 8915-E is still not listed as available when clicking on 'forms'. Come on Turbo Tax, we retires need that form ASAP.

[DoninGA]

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@jonbo wrote:

Just installed the latest updates for TurboTax 2020 Deluxe on March 8, 2021 and Form 8915-E is still not listed as available when clicking on 'forms'. Come on Turbo Tax, we retires need that form ASAP.

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The Form 8915-E was released as a software update on 02/26/2021.  It is showing on my Windows based 2020 TurboTax edition.

But it will only be shown if you have entered a Form 1099-R and indicated the withdrawal was caused by Covid-19.  

If you entered a 1099-R, delete the form and re-enter manually.  Answer the questions after the form has been entered.

[kzigmant]

After updating the TurboTax software, qualification for a penalty waiver and/or other tax relief made available under the Cares Act will not be automatic after the update.   As such, you will need to go back and review (edit) your 1099-R to answer the additional follow-up questions that will now appear, in order to determine your eligibility.  Once your eligibility has been determined, Form 8915-E will generate in your return.  But remember to answer ALL follow-up questions.