When will Form 8915-E be available? TurboTax indicates "IRS instructions related to disaster distributions weren't ready in time for this release." It's been weeks now.

[CBRF4i59]

@Lieutenant4710 

i was I told today that each state will have to have the bugs worked out of it.  The advisor informed me it could be a couple of weeks. 

[jrpq]

Were you able to identify what was causing this problem?

[jrpq]

Have you identified what is causing this problem in order to be able to e-file? 

[Anonymous]

@Lieutenant4710 @ajd878787  as of 700am this morning, still getting the NYS issue...... would be nice if someone would provide an update on this.

[TravisTractor]

How can a reliable company operate like this? No updates.  No ETA.  No consistent message? Just good luck to you and thank you for buying our software.  

[Anonymous]

@TravisTractor so incredibly annoying that no one is responding about this issue.  They were all in a hurry to answer the 8915-E questions, but no quiet on the state(s) filing issue.

[igould]

Hi, my desktop deluxe version does seem to have the CARES functionality, but I do not see where the system includes the 1/3 taxes - please help.

[macuser_22]

Enter the 1099-R and answer the followup questions about COVID distribution.

To pay 1/3 do not check the box on this screen.

[igould]

Thank you, I saw that box. But when I fill out the form the program does not calculate the tax. Of the distribution I’m paying 45% of it back. TurboTax TurboTax is not calculating the tax on the remaining 55%.

[macuser_22]

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@igould wrote:

Thank you, I saw that box. But when I fill out the form the program does not calculate the tax. Of the distribution I’m paying 45% of it back. TurboTax TurboTax is not calculating the tax on the remaining 55%.

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It will not unless you check that box if you want to pay all the tax on the 2020 tax return.  The amount already pay back is not taxable.

[igould]

Agree the amount I'm paying back is not taxable, so nothing should show for the 45% I'm returning.  But the 55% that I will not return, I want to pay taxes over 3 years.  But the program (or my inputs) are not calculating any tax.

[macuser_22]

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@igould wrote:

Agree the amount I'm paying back is not taxable, so nothing should show for the 45% I'm returning.  But the 55% that I will not return, I want to pay taxes over 3 years.  But the program (or my inputs) are not calculating any tax.

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That is correct.  If you want to spread the tax over 3 years then there is no tax for 2020 because you already returned at least 1/3 of the distribution and that is not taxable.

[igould]

So maybe this is the piece I'm missing ... the 1/3 Covid withdrawal starts to become taxable for the 2021 return?  So 2020 net Covid withdrawal is not taxable, but 2021, 2022, 2023 will be taxable?

Thanks for the help

[dmertz]

If you do not choose to include all of the income on your 2020 tax return, it's included 1/3 on your 2020 tax return, 1/3 on your 2021 tax return and 1/3 on your 2022 tax return.

If you repay any amount before the due date of your 2020 tax return, that first reduces the amount of income includible on your 2020 tax return.  For example, if you receive a CRD of $90,000 that would be all taxable, a repayment of $30,000 before the due date of your 2020 tax return eliminates the $30,000 of income from your 2020 tax return but you'll still have $30,000 of this income on your 2021 tax return and $30,000 on your 2022 tax return.

[igould]

Yep fully understand that.  But my TT is not calculating tax on the 1/3 taxable 2020 portion.