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

[ld4runner]

This is 100% correct. Edit your 1099R and the covid questions are there however, if you live in New York updates are still pending for your NYS return. I completed my return and 2 days later I received a message that my NYS return was rejected pending updates to form 8915E.  I didn't have any errors when I first filed but it's showing errors now for my NYS return. I've been checking everyday for a week now and as of today it's still not updated. 

[jonbo]

I have read three answers to my question. When entering 1099-R distributions, I need to complete Form 8915-E to indicate I rolled some of those distributions back into the original IRA, following the Cares Act of 2020 rules for returning RMD distributions. Turbo Tax gives two choices regarding Covid 19 asking if the withdrawal was due to Covid 19 or If this was a qualified disaster distribution. Clicking on either of these leads to: "Unfortunately the software isn't ready to handle this. Please revisit this area later." Nothing seems to work with the 4our 1099=R distributions that I rolled back. Please help m Turbo Tax. I have the 8915-E paper form from the IRS. How do we get that into Turbo Tax. I'm getting angry and disappointed with Intuit on this issue.  The processes in other replies just do not work. My software is up to date as of 3/8/2021Jonbo

[richpatrie]

It's in there. When you enter in the 1099, it will ask for additional info pertaining to Covid. 

[DoninGA]

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@jonbo wrote:

I have read three answers to my question. When entering 1099-R distributions, I need to complete Form 8915-E to indicate I rolled some of those distributions back into the original IRA, following the Cares Act of 2020 rules for returning RMD distributions. Turbo Tax gives two choices regarding Covid 19 asking if the withdrawal was due to Covid 19 or If this was a qualified disaster distribution. Clicking on either of these leads to: "Unfortunately the software isn't ready to handle this. Please revisit this area later." Nothing seems to work with the 4our 1099=R distributions that I rolled back. Please help m Turbo Tax. I have the 8915-E paper form from the IRS. How do we get that into Turbo Tax. I'm getting angry and disappointed with Intuit on this issue.  The processes in other replies just do not work. My software is up to date as of 3/8/2021Jonbo

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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.

If your software is indicating it is up to date and you are using a Windows PC, manually update the software.  See this TurboTax support FAQ for manually updating the software - https://ttlc.intuit.com/community/updating/help/manually-update-turbotax-for-windows-software-basic-...

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

[SamS1]

@jonbo You may need to delete the 1099R and re-enter or import for TurboTax to recognize your 1099R for the 8915E questions after the update.  I had to to do that and I am using desktop Home and Business.  After deleting the form and re-entering in Step-By-Step, go into "Forms" mode and review the 1099R. While in your return in Desktop:

1. In the upper right hand corner Select "Forms"
2. Now in the left hand column of the screen, select the 1099R form you are working on
3. Review your input then scroll down the screen to the Disaster Relief section.
4. There you can review the Covid distribution questions and indicate amounts.
5. To return to Step-By-Step, select in the upper right hand corner.

While in Forms Mode review the forms listing for red !. You will need to correct these in order to efile.

The 8915-E will be used for penalty relief from early retirement plan distributions and include the option to spread the distribution income over 3 years.  This may be a good option if the distribution is pushing you into a higher marginal tax bracket.  You may end up paying less tax if you spread the distribution over the 3 years

[robbyja]

Note: I'm a user and not from TT.  

Many states are not yet updated in TT so perhaps that is what you are referring to.  

For example, I'm still waiting for NY.

But that should not interfere with federal which mostly works (see below).

To test and learn, I used TT Deluxe (download) and also the online self employed version.

If you have a downloaded version, make sure you are internet connected so that it can update.

If you are not talking about your state return (ie your issue is with federal), the software completes the 8915-E for you.  It does work (and I just now tried on both Deluxe and Online) although I had a weird experience as getting the correct results (what went into line 4b on the 1040) depended on the order I entered the 1099-Rs (I had 4 and only one was taken due to a COVID hardship).  But, that's a separate issue.

You only need to enter each 1099-R and answer the questions as they relate to each.  Answering ALL of those questions correctly is key to getting the desired results.  The only error you might get (as of today) is that it cannot e-file because the state forms aren't ready yet.

If you are getting a specific error for the federal 8915-E, I can only suggest you delete your 1099-Rs and start over because as long as your software is updated, it does work.

[sgascoig]

My state form was still not available pertaining to the 1099R and 8915-E form (I took a COVID disbursement through my retirement fund). I had to complete my State Return through our states tax portal and submitted my Federal form through TT as the State form for 8915-E filings was not approved yet for Turbo Tax to make available and they do not have a timeframe as to when it will be. You have to submit your federal return before you are able to file your state return through the state portal bc you need to attach your 1040 to the state return. 

[DawnC]

Have you already filed?  Was it accepted?   If you already filed before the 8915-E was ready, you will need to come back later this month and file an amended return to add the covid relief.

If you have not filed yet, you can sign in or open your return and enter (or delete and re-enter) your 1099-R.  After you enter the form data, you will be asked whether or not it was a covid withdrawal and if so, whether or not you want to spread the tax over 3 years or pay it all now in 2020.    TurboTax will transfer that data to any state return referenced on your federal return.    @sgascoig 

[sgascoig]

The problem is the state return is not available/approved for use on Turbo Tax. They have everything set for the federal part of it but the state return for many states has been available on the state site but not approved yet for use on Turbo Tax......

[sgascoig]

I submitted my federal return on Turbo Tax but submitted my state return through my states website bc Turbo Tax could not give a date that the state part would be available. The state side of things was already available in my state just not approved for turbo tax yet. I already got my state refund back and I filed a week ago. Just waiting on my Fed return now...

[jonbo]

Thanks Dawn C. Nothing has worked for me. I've added 'fake' 1099-R entries with the same data, I've re-entered 1099-R data using step by step. Maybe each version is different. I started with the TT Deluxe disk from Costco, I've had a couple of updates when opening the software, including the latest. Today I checked for updates, it's up to date. State data gets mentioned in some posts, but I'm in Illinois, which does not tax any 1099-R income, so since retirement I don't file state taxes. To be clear, I've entered zero as a taxable amount for the five distributions from various accounts that I was able to rollover back into the IRA within the dates and rules set up by the Cares Act of 2020 rules. Do I delete all those entries from the two investment companies with my IRAs that connect directly over the internet and have them re-load the 1099 information? Will that help? I'm getting frustrated and angry with TT that they have not clearly updated the software to accommodate the RMD rollover allowed by the Cares Act . I need the step by step help. I've been using TT for at least 20 years!  jonbo

[IDF783]

My situation is a bit different. I got a 1099-R  because I could not repay a pre-COVID 401k loan due to COVID losing my job. Called a tax advisor and she said I can qualify to spread this income over 3 years to lessen my tax burden. My 1099-R has a distribution code of 1L. To distribute income, I need to file a 8915e, but where are the "forms" to select  8915e for the TT online version (deluxe)? If I add my 1099-R and select a code 1 then it will ask if it was COVID related, I tick yes and it reconstitues my income over 3 years. If I select a code of 1L, it won't.  She also said I can fill a paper version of 8915e and send it in to the IRS, wait till they get it and file my return with my 1099-R as a code of 1. 

[robbyja]

Code 1L means you took $ from your 401k as a loan.

401k loans are not subject to income tax (or a penalty) and therefore the CARES Act 3 year income program (8915-E) does not apply to you (as you have already "avoided" both the tax and the penalty).

But, if you cannot repay it, contact your 401k plan administrator and have them file the paperwork to change the coding, to alleviate you of a required loan repayment and to ultimately issue a new 1099-R (with a code 1 which is early distribution).  Then, you can proceed with TT which will file the 8915-E to deal with the penalty and resulting taxes.

[IDF783]

I already called my plan administrator and according to them, the IRS told them they can't send me a revised 1099-R that changes my code (from 1L or 1). They said the only way to make this work is form 8915e.

[SamS1]

@IDF783 Make sure you indicate you have 2 codes and enter the 1 in first box and L in 2nd.  I just tried it in both the Desktop and TurboTax online and both took me to the 8915E screens for the income deferral.  

The 8915-E will be used for penalty relief from early retirement plan distributions and include the option to spread the distribution income over 3 years.  This may be a good option if the distribution is pushing you into a higher marginal tax bracket.  You may end up paying less tax if you spread the distribution over the 3 years