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

[andrewjdunlap]

I just found this on the IRS website as an alternative way to submit the same information when efiling without the form/PDF but I am not sure how to navigate this with TurboTax?

https://www.irs.gov/forms-pubs/alternative-filing-method-for-e-filed-returns-that-include-form-8915-...

[Critter-3]

Sorry but you cannot use the 8915-E  on a 2021 return ... that form is for 2020 returns and earlier.   You must use the 8915-F on the 2021 return.  

[JYD22]

This has been a nightmare. I had to take out two pensions in Aug 2021 because I was still recovering from a Covid-layoff in 2020.  It's impossible to get a straight answer on whether or not I will owe the extra 10% & have to pay it back in 3 years.  Even my CPA is having a hard time understanding.  I even tried to file on TTax WITHOUT declaring my early withdrawals due to Covid & I still can't file my returns through TTax without the 8915E-T, it says. 

[fanfare]

@JYD22 

The COVID-19 related option was for distributions taken before Dec 31, 2020.

After that date, if you take two distributions in 2021, the regular tax rules apply,

unless  you were in a designated disaster area which has a FEMA number assigned that you can enter.

Inform your CPA if you want him/her to file for you.

[fanfare]

@JYD22 

answer above updated.

If you take any disaster distribution, you are not required to pay it back. That would defeat the whole purpose.

[JYD22]

@fanfare Thank you for that. Yes, this is where we landed, that my 2021 distributions don't qualify, and no, I was not in a disaster area nor qualify.  So I went back and selected "No", that I did NOT take this out for a qualifying event, but TurboTax still won't let me file and is saying I still need to fill out the 8915E-T forms, so I don't understand why.  

Do you have any insight as to why?  

Thanks for your time & help. 

[DoninGA]

@JYD22 See if there is a Form 8915-E in the list of forms for your account.  If there is delete the Form 8915-E

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

Click on Tools

Click on Delete a form

[JYD22]

@DoninGA , thank you. I just did as you suggested & the 8915E-T continues to show up in the list.  Thoughts? 

[DoninGA]

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@JYD22 wrote:

@DoninGA , thank you. I just did as you suggested & the 8915E-T continues to show up in the list.  Thoughts? 

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The only other thing I could recommend would be radical but if you are willing, clear the return and start over.

If you have not paid for the online edition you are using, have not filed your tax return or registered the Free edition, then you can clear your return and start over with a lower priced edition. Click on Tax Tools on the left side of the program screen while working on the 2020 online tax return. Click on Clear & Start Over.

[JYD22]

@DoninGA . I am unable to Clear & Start Over: tried. I also heard back from a TurboTax rep who said "you are stuck until TTax fixes this issue. That's all I can tell you. They haven't given us any new information. I've had about 200 calls on this in the last 2 days. You cannot Clear & Start Over b/c the 'system knows' you took out a distribution, even if you went back to change it to 'no' for qualified disaster."

Not a good experience from my end, but not the worst either. 

We'll just wait it out.  Thanks for chiming in. 

[jeagle]

There may be a form in the back ground that is still populated.  

Follow these steps to see if Form 8915-E is still there if so delete it:

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

1. Open or continue your return in TurboTax.
2. In the left menu, select Tax Tools and then Tools.
3. In the pop-up window Tool Center, choose Delete a form.
4. Select Delete next to the form/schedule/worksheet in the list and follow the instructions.

[Ruben74]

I’m a little confused because I paid the 10% with the withdrawal upfront? Which is why I have not received a 1099 form so why is it asking me that question. 

[FangxiaL]

If you did not take any money out of a retirement account in 2021, you should not receive a 1099-R form again for the distribution you took in tax year 2020.

You said you paid the 10% upfront, did you mean the 10% penalty besides the income tax you had to pay on your 2020 return? If that is the case with you, you did not indicate that the distribution is due to Covid-19, otherwise, the 10% addition to tax does not apply. 

This question applies to a lot of taxpayers. Select No if you don't need to report 1/3 of the amount of your distribution from a prior year.

@Ruben74

[Ruben74]

From what I understand they waived the penalty fee with Vanguard but I paid the taxes up front, 10%. 

[FangxiaL]

Oh, I see what you mean. You had 10% withheld from it when you took the distribution. If you also chose to pay taxes over the 3-year period, you do need to wait for Form 8915-F to report the 2nd 1/3 on your 2021 tax return. You are correct, there is no 10% penalty applicable. The 10% withheld upfront was counted towards taxes paid on your 2020 tax return. 

Federal Individual Form Availability.

@Ruben74