When will form 8915-E be available? I would like to file.

[macuser_22]

The TurboTax 8915-E should be available on Feb. 25 (pending IRS approval by then). Updates are usually at night so check on the 26th.

See the forms availability list:
https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-pe...

The IRS just finalized the form on Feb 11. TurboTax must now submit their 8915-E software to the IRS for testing to be sure that both TurboTax and the IRS e-file computer are compatible. That process usually takes the IRS 2-3 weeks for approval to release the new form to the public.

See below for a link to sign up for an email when the form is ready.

This form is necessary to report COVID related distributions from IRA's and other retirement plans to report the distribution, pay it back over 3 years or spread the tax over 3 years.

A COVID-19 related distribution is reported on a new 8915-E form.

See this TurboTax FAQ to sign up for an e-mail when the form is ready.
https://ttlc.intuit.com/community/tax-topics/help/why-am-i-getting-getting-a-10-penalty-on-my-1099-r...
The TurboTax 8915-E should be available on Feb. 25 (pending IRS approval by then). Updates are usually at night so check on the 26th.

See the forms availability list:
https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-pe...

The IRS just finalized the form on Feb 11. TurboTax must now submit their 8915-E software to the IRS for testing to be sure that both TurboTax and the IRS e-file computer are compatible. That process usually takes the IRS 2-3 weeks for approval to release the new form to the public.

See below for a link to sign up for an email when the form is ready.

This form is necessary to report COVID related distributions from IRA's and other retirement plans to report the distribution, pay it back over 3 years or spread the tax over 3 years.

A COVID-19 related distribution is reported on a new 8915-E form.

See this TurboTax FAQ to sign up for an e-mail when the form is ready.
https://ttlc.intuit.com/community/tax-topics/help/why-am-i-getting-getting-a-10-penalty-on-my-1099-r...

[VinnyS]

Thank you.  All of the other posts I have read talked about February 24th as the release for the 8915-e.  Hopefully they will push the update on the 26th so that we can start processing our tax forms to the IRS.

[macuser_22]

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@VinnyS wrote:

Thank you.  All of the other posts I have read talked about February 24th as the release for the 8915-e.  Hopefully they will push the update on the 26th so that we can start processing our tax forms to the IRS.

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Unfortunately TurboTax released a FAQ that probably had a typo that said 2/24 but the official forms list says 2/25.

And that usually means late afternoon or evening when updates are done.

[wmtc4000]

That makes sense.  I'm sure the same person who had a "typo" never makes that mistake with the IRS.  Just us idiots.  Thanks!

[fz1dm5]

I was able to use form 8915-E  today, however when I get into my State  (MI) and do a review I get this message:

"Pension Deduction Worksheet: Federal Amount , We're still working on updates related to retirements distributions that qualify for disaster or COVID relief. You can keep working on your return and we'll remove this message when ready"

When will this message be removed?

Thanks

Mark

[NYS Cruiser]

I am getting the same exact message and Turbo Tax just put out that the form is ready..Amazing,,

[kyanda]

Where do you find the form? 

[DoninGA]

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@kyanda  wrote:

Where do you find the form? 

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Form 8915-E, Qualified 2020 Disaster Retirement Plan Distributions and Repayments is available for both the TurboTax online web-based editions and the TurboTax desktop CD/Download editions.

If you are using the desktop editions you have to update your software.  Click on Online.  Click on Check for Updates.

You need to enter or edit your Form 1099-R and answer the questions concerning a Covid-19 distribution.

[kyanda]

Hi where did you find the form? I’m on the app and I can’t find it. 

[kyanda]

Thank you so much! I found it! 

Another question on my 401k withdrawal. I had federal taxes taken out when I took it and didn’t have to pay state because I was in Texas. Now it’s saying I have to pay taxes on the withdrawal? I thought I already did that when I took out the money. 

I did move to Iowa after the withdrawal so that now shows as my current address. Is it the state f Iowa that is claiming the taxes on that income now? It says I have up to 3 years to pay it back but I chose the option at withdrawal to have taxes taken out already so I’m confused. Thanks so much!

[DoninGA]

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@kyanda  wrote:

Thank you so much! I found it! 

Another question on my 401k withdrawal. I had federal taxes taken out when I took it and didn’t have to pay state because I was in Texas. Now it’s saying I have to pay taxes on the withdrawal? I thought I already did that when I took out the money. 

I did move to Iowa after the withdrawal so that now shows as my current address. Is it the state f Iowa that is claiming the taxes on that income now? It says I have up to 3 years to pay it back but I chose the option at withdrawal to have taxes taken out already so I’m confused. Thanks so much!

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You had taxes withheld from the withdrawal just like you would have taxes withheld from wages reported on a W-2.  The taxes withheld are entered on your tax return as a tax payment.  If your total tax payments are less than your total tax liability you will have taxes owed on the federal tax return.

If you selected to have the distribution spread out over 3 years then only 1/3 of the distribution is entered on your federal tax return Form 1040 Line 4b or Line 5b as taxable income, depending on whether the withdrawal was from an IRA or a pension plan.

You should be filing a part year Iowa tax return and you indicate your income on the state return for only the dates you were an Iowa resident.

[kyanda]

Ok thank you so much that makes sense. How do you know what the percentage of your tax liability? They took out 10% initially which I thought was right since Texas doesn’t have state income tax. 

[DoninGA]

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@kyanda  wrote:

Ok thank you so much that makes sense. How do you know what the percentage of your tax liability? They took out 10% initially which I thought was right since Texas doesn’t have state income tax. 

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Only federal income taxes would have been withheld from the withdrawal.  You will have to look at your federal tax return for the total tax payments and the total tax liability.

Your Iowa state taxes are based on your income while a Iowa resident and any Iowa state income taxes you had withheld from your Iowa income.

[LaVicke]

It’s updated and available now though I am still getting a filing error.