When will form 8915-E be update and available for 2021 tax year?

[aynorgirl]

https://www.irs.gov/pub/irs-pdf/f8915f.pdf

[gemmill56]

I called the IRS and we need form 8915-F for our 2021 taxes.

[dfresh1988]

What do I need to show the IRS for repayment of my covid distribution? Am I supposed to get a form from my IRA brokerage showing a repayment? I have not gotten this. 

[fanfare]

you don't need any document.

Just enter the amount repaid in the appropriate place according to the Instructions.

[Liz3682]

Can I file now

[dfresh1988]

Seriously? Who verifies this? What is stopping anyone from lying other than being afraid of getting caught? And how would you get caught?

[Critter-3]

@Liz3682 

You can file now and amend later however if you owe on the amended return then late payment penalties could be applied.

@dfresh1988 

The IRS computers verify things even if they take a couple of years to catch the unreported income so if you choose to spread the 2020 distribution over 3 tax years this is something the computers will eventually catch.  And when  they do then penalties and interest will certainly be added to the amount due ... but you can take your chances if you wish.  No one here is going to stop you from filing an incorrect fraudulent return that you sign under oath to be correct and accurate.

[dfresh1988]

Yeah got it I’m not even considering this I’m only surprised what little is required compared to 1099s, W2s, etc. 

What little I have to gain is nowhere near worth the risk or constantly looking over my shoulder wondering if I’ll get caught. Not worth saving $1,200 over three years lol

[CSKcpa56]

I'd appreciate an update on this issue. I received money in 2020 from my 401K and elected the 3 year period to bring the money into income due to  COVID. $5K each year. My 2020 return shows receipt of $15K on the 1099R and on Line 5a and then $5K on the taxable area Line 5b. 

I put a carryover schedule in my 2021 file and now I have nothing from Vanguard so I'm trying to figure out how to show the $5K on my return. 

Am I supposed to act like a got a 1099R from vanguard for 2021 for $5K and answer the question it's from a COVID distribution? Because I tried that since all the carryover information from the 2020 return in TT for Vanguard. I put $5K as distribution and fully taxable and then started answering the questions. But the minute I checked the box it was COVID I got a notice saying the information to input in Turbo Tax isn't going to be available until March 2022. 

Any help would be appreciated. 

[tonyteshera]

@CSKcpa56 Yes, we're waiting for TurboTax to include form 8915-F and also update the step-by-step instructions so you can do this correctly. They're not committing to enable this until 3/31, but we're hoping sooner. 

[neta5z9]

I do not believe that this form applies to me and cannot find a way to work around this.  I don't want to wait for a form that should not affect my filing.

[DoninGA]

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@neta5z9 wrote:

I do not believe that this form applies to me and cannot find a way to work around this.  I don't want to wait for a form that should not affect my filing.

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If the Form 8915-F is not going to apply since you did not have a Covid-19 distribution in 2020 or you did not split the distribution over 3 years, then you can just complete your tax return and file.

[maddiej]

I did not spread payments out over 3 years, nor did I even receive any type of retirement distribution in the last 3 years; why am I getting this notification?! Any help would be appreciated. 

[DoninGA]

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@maddiej wrote:

I did not spread payments out over 3 years, nor did I even receive any type of retirement distribution in the last 3 years; why am I getting this notification?! Any help would be appreciated. 

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There may be a phantom Form 1099-R in your account.

If you are using the TurboTax online editions -

Click on Tax Tools on the left side of the online program screen

Click on Tools

Click on Delete a form

[marytickfer1543]

Thank you! I had to pull out 2020's 8915-E and I did choose to spread the tax over 3 years so I'll have to wait, AGAIN to file once they revise the form.

You saved me a lot of hassle because I didn't think I needed to file this again.

Mary