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@KH0981 - Are you sure about that? Other have reported that 8915-F can only be filed by H&R professional for $60 upcharge. I would check again.
That is what my local H&R Block stated not saying it’s right or wrong but that is what she told me when I called again to clarify. Please feel free to call yours…
@KH0981 - No I wont use H&R Block, if I need that I will use a local tax prep service.
Either way I wont be posting advice on the official Intuit website, using their resources, to tell TurboTax users to change to someone else. So I won't need to call.
I was just going by what other people have said here.
msromike is correct RE HR Block. I attempted to efile with them and 8915 f wasn't completed as early as they advertised. In addition, when you go to the section to answer questions about 1099 r and disaster payments (such as Covid and 8915 f), you get an alert that they will not allow you to complete this section on your own and you must use a 'tax pro' with a $59.99 charge due to how 'complicated' it is. Hogwash. It literally takes 1 minute to complete that information. I tried to work around this and it will not let you proceed. I immediately deleted my info and newly completed account. I'm giving TT until next week and if no 8915 f, filing with FreeTaxUSA.
It would be nice since IRS has released the form that TT could tell us when it would be ready. I am really tired of going and checking. I talked to a TT person on the phone, and she didn't even know the form had been released. Her answer was for me to go back and check every 3-4 days. I would think they could at least estimate when it will be ready.
@cherilanell - though it is frustrating, I don't think they want to promise and not deliver? So it's safe for them to say that it will be 03/31/2022 and then get it done sooner?
As far as calling frequently, just save yourself some headache and use this page to check:
TBH the way the IRS looks at it (and tax prep people) this is not a time sensitive thing. You have until 18 Oct to file as long as you file an extension. I mean the IRS for the most part OWES people every year at tax time, not the other way around.
I get you want your refund, but your best bet there going forward is DO NOT over withhold. Instead pay estimated taxes, and owe them zero with a as close to a zero refund as possible.
I called to inquire, but wanted to confirm, could you just not file it for this second year and simply do 2/3 when I file in 2022 vs filling 1/3-1/3-1/3 ?
@Sal-Ella - unfortunatley no. It needs to be 1/3 or more at front.
34 - 33 -33
60 - 20 - 20
not
33 - 0 - 66
At lease that's the way I read the CARES act rules.
I spoke with a live expert and who found somewhere that you could, but I’m just trying to cover my bases before I risk it.
The distributions generally are included in income ratably over a three-year period, starting with the year in which you receive your distribution. For example, if you receive a $9,000 coronavirus-related distribution in 2020, you would report $3,000 in income on your federal income tax return for each of 2020, 2021, and 2022. However, you have the option of including the entire distribution in your income for the year of the distribution.
Read it for yourself, the Turbo Tax employee wont be paying your penalites and interest if there are any.
If you look up the definition of "ratably" I believe you will find that is construed to mean equal.
Hey Turbotax. Do you see the hundreds of people that are frustrated that you haven't got your **bleep** together and made this form available. These are all paying customers and expect you to do what you promised. We all are waiting, twiddling our thumbs waiting to file our taxes because of this ridiculous form. We all now hate you, but feel trapped because we have worked with you for many years and you have all our information. You could just make the form available and stop all of this and let us move on with our lives. Also, I don't want to get points for reading or contributing to your silly little forum. We're not children and we don't care about gathering your fake little points. Just do your stupid job, make the form available and let's all move on. We do our job (which is why we are here paying taxes), now you do your job. You suck Turbotax.
Is the 10% early withdrawal waived again when filing the 2nd portion on form 8915F?
Yes
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