8915-F

[glw1861]

I see that ProSeries has added 8915-F for 2021.  However, it is NOT visible in the forms library in the program.  I searched for availability and it isn't listed at all.  Does anyone know when it will be available?

[Jim-from-Ohio · Accepted solution]

03.24

[glw1861]

Thank you.  Do you know if ProSeries will somehow automatically pick up the information from the 2020 return or will this be a manual task for every client that elected the deferral?  It isn't in the carryover worksheet.  So I may need to run a query to see which clients claimed this option.

[qbteachmt]

The 8915-F has been listed all along, but it is not sequential. Use Find, and "8915-F" will show:

Form 8915-F, Qualified Disaster Retirement Plan Distributions and Retirements (Spouse)	Final on 03/24/2022, EF on 03/24/2022
Form 8915-F, Qualified Disaster Retirement Plan Distributions and Retirements (Taxpayer)	Final on 03/24/2022, EF on 03/24/2022

[glw1861]

Thank you.  How can I find which clients may have elected to take the Covid option and only picked up 1/3 last year?  I looked at the client analyzer for 2020 returns and that isn't an option.  There isn't even an option to show which clients had a 1099-R or took a distribution.  And since the information did NOT carryover in the carryover worksheet am I going to have to look at every single return to figure out which returns I need to deal with this issue?

[clr600]

Not available

[IRonMaN]

You don't review the prior year return at all when you are preparing the current year return?

[glw1861]

I like to know what to expect in advance.  What I was hoping for was to get a list of those clients that this will apply to so when I get their information I am already aware so I can "remind" them of the extra tax they will owe.

[IRonMaN]

But everybody that prepared a return last year electing the three year spread knew that for the next two years they would be dealing with this issue.  It was a lot easier to put a note in someone's file than to hope that Intuit was going to provide a tool to provide folks with information after the fact.

[joshuabarksatlcs]

For what it's worth, when Lacerte came up with the F form (no pun intended, I'm referring to 8915-F), the 2020 E form info flows to the 2021 F form.  Automatic.  NO re-proforma was needed.  It was just there, 33,333 staring at me for every single 1099-R that pull that trick in 2020.

I sincerely hope the same for PS.  You PS folks have gotten the fair share of grief.  Enough said.  3/24 is less than a week from now.  Hang in there.  @rcooley25 , kindly do NOT respond to or comment on this.  (The "kindly" is with respect to your mental health...)

[qbteachmt]

@Ephesians3-14 Provides this reference:

"IN the 2020 software, set up a custom view. Select the TOTAL IRA, TAXABLE IRA AND TAXPAYER AGE fields. Then visually scroll down by age and compare the total TAXABLE IRA column to the TOTAL IRA column. That way I was able to identify all of my clients who made this election."

[dkh]

@glw1861     I have to ask...it's March 18th - how is it possible you haven't had any of those client's returns yet?

[rcooley25]

I believe that you will have to enter it manually but going by what I have learn looking at a sample 8915F it should prove to be a minor thaing to do.

[joshuabarksatlcs]

I imagine you weren't asking me.  So this is more of a buttinski-esque post.

As of now, Lacerte is still limiting the 3804-CR credit (Pass Thru Tax Credit) by the TMT.  

We're on a similar F boat (again F for 8915-F), with a different issue, in regards to the software changes slash new forms slash IRS new requirements (K-2, 1116 Sch etc.)

My simple answer: Extension.  I'm lucky in that my clientele accepts extension filing and the reasoning thereof.

[mm1]

I am going to have to try this. It is now 3-24 and there still is no Query available. Yes, we should know which clients but my people are exhausted and I am afraid we will miss someone (or have already done so). Thank you.

[Jamierac]

A current year disaster 1099R distribution (2021). How do you input this to calculate a 3 year spread OR not be penalized with a 10% penalty. For example tropical storm IDA in this part of my state was declared a disaster area and qualifies for this. Only a 8915F is applicable.  In the past on the 1099R worksheet we checked the box in the Disaster worksheet. No such box for 2021.  This is a different issue then the carryovers.  

[sewcpa]

The query was recently added in the 2020 program (it took a while to go thru my database of 1000 tax returns from last yr)

The query lists both those that did the 3 yr spread and those that reported all $ in 2020 but used the exception for 10% penalty. So I went thru the print out and noted which were which.

[mdalh]

ProSeries Form 8915F doesn't have any enterable data fields and there is no worksheet.  Is the form not fully ready or does PS expect that we will transfer the client into the 2021 Homebase only now that  the form is available?

[dkh]

form 8915-E is where you need to enter info if you aren't transferring clients file now

Did you read the Alert that was issued today?  PS has instructions on how to use 8915-F

Generating Form 8915 in ProSeries (intuit.com)

[qbteachmt]

"It is now 3-24 and there still is no Query available."

Yes; it came out last week:

https://proconnect.intuit.com/community/proseries-tax-idea-exchange/tax-query-for-form-8915-e-should...

[mm1]

Well, this tired person was looking for the Query in the 2021 program, not 2020. But I quickly solved my issue by doing a Homebase custom view as suggested about. Very quick and easy to do and I didn't have to worry about the Query missing someone. Thank you for pointing it out that the Query is in 2020. It never even crossed my mind.

[Randy Haynes]

You have to go to the 8915-E and enter the information in Part III. You will have to get numbers from the 2020 8915-E.

[Solid Numbers]

8915F has been on Pro Series for two days now but it will not allow entries.

[dkh]

@Solid Numbers    Because the entries don't go on the 8915-F they go on the 8915-E

read this   Generating Form 8915 in ProSeries (intuit.com)

[glw1861]

Look fake form 8915E for 2021 and enter it there, it then goes to the real form 8915F

[Jamierac]

So you enter it into the 8915E to flow to the 8915F.  However the penalty for code 1 does not go away as it did in the past for the type of distributions.  Why PROSERIES doesnt have this on the 1099R worksheet to me is confusing.  They need to add it to this to the QUALIFIED DISASTER DISTRIBUTION WORKSHEET to make it flow to these forms.  I think they have not completed this for the current year yet.  Again no guidance on this for the current year disaster. Yes the prior year carryover is working fine but not the disaster for the current year.  Has anyone actually successfully done this?

[cs85354]

Here is the link on how to handle the 8915f in proseries.

https://proconnect.intuit.com/community/retirement-tax-credits-and-deductions/help/generating-form-8...

Also if you update your 2020 it should now have the query to run for the clients that this affected but it is time consuming according to how many clients you have.

[melkam]

I am having the same issue.  I can see the Form 8915-F and it does not allow entry.  

[rcooley25]

It should be there now.

[melkam]

Nevermind... I didn't read through all of the comments.  I have it now.   Thank you.

[Thistle]

Form 8915-F is available but does not allow for manual entry..........!

[rcooley25]

8915 E is the worksheet for 8915  Fill out 8915E and the information will be transfered to 8915F

[dkh]

@Thistle    here is instructions from PS  Generating Form 8915 in ProSeries (intuit.com)

[birch]

I have been doing the 8915-E worksheet for the 3 year carryover and it is flowing to the 8915-F which adds 1/3 of the distribution correctly to the tax return.  However, 8915-F is not an active form in the tax return and does not show that it will be filed.  Does anyone know if it needs to actually be filed with the tax return if the distribution was in 2020 or is there something I am missing?

[dkh]

@birch  Yes, The 8915-F needs to be filed with the return if there is a 1/3 carryover to 2021.  It should show in Forms in Use - mine does.    

[LB56]

I  just opened the Client Analyzer Queries drop down and there is NO "Qualified Disaster Distribution" query listed?????????????????????????

[glw1861]

Did you look in 2020?  Have you updated the 2020 program?

[LB56]

I just did the exact same thing!

[LB56]

oh boy! Thank you I found it and it is running now.

[dkutej]

If they elected in 2020 to spread it out over 3 yrs, but want to include the total amount on the 2021 tax return, do you put the total amount instead of 1/3 on line 12 and leave line 15 with 1/3 amount?

[qbteachmt]

"want to include the total amount on the 2021 tax return"

The way the provision is written:

You either accept the three-year spread, or you opt out and report it all in the year of distribution. There is no provision for changing your mind, mid-way.

There is a provision to Amend 2020, of course.

[joshuabarksatlcs]

RE: 1.  If they elected in 2020 to spread it out over 3 yrs,

2.  but want to include the total amount on the 2021 tax return,

3.  do you put the total amount instead of 1/3 on line 12 and leave line 15 with 1/3 amount?

I must confess I did NOT read the earlier posts.  I may be barking up the wrong tree in part of my comments, but in the interest of address 1 and 2, AND in the interest of barking up the wrong tree (BUTWT)  here it is:

1.  Folks keep saying "elect in 2020 to spread it out over three years."  Taxpayers do NOT elect to spread over 3 years.  It is the default.  Taxpayer MAY ELECT to claim all qualified distributions (as defined in the code) in ONE years.  READ THE CODE and IRS Regulations and the instructions of 2020 Form 8915E.  

I do not know if there is a time limit for the election.  This post seems to talk about filing 2020 late (possibly BUTWT here).

2.  I'm scratching my head, bemused by the logic.  (Possibly BUTWT here).  IF someone "elected in 2020 to spread it all in three years" , how could that someone "want to include the total amount on the 2021 tax return"?  Another case of Delorean at 88 mph??? (I spelled Delorean this way to troll Bob to come in and correct me: It's DMC DeLorean!!  But, hahaha, he can't do all caps here!!!)

3.  If I type something here, it'd definitely be BUTWT.

@IRonMaN : Perhaps you should change your signature line to:

I come here to stand with Ukraine and to see Joshua barking up the wrong tree....

Have to go to, some other trees are worth barking up....

[qbteachmt]

Keeping in mind that, as usual, this topic has mix of participants asking a mix of questions. The help being sought for the most recent input did not include filing anything late. We've seen a few people mention their taxpayer client wants to report the rest in 2021. We've also seen the statement that the Repayment is being spread over 3 years; yet, when you ask for clarification, they meant Income reporting, not Repayment.

[Ron_Mc]

Has anyone encountered this problem ?  Married couple, both age 50.  He has a small 1099-R of $333, with $333 taxable, Fed w/h of $50, and it is CODE '1'.  You can observe the $333 on the 1099-R Summary sheet under TAXABLE, line 32a.

Then I add a 8915-E Worksheet of a 2020 COVID distribution of $60k spread over the 3 years, $20k/year.  This causes the $20k to appear on the 8915-F and on the 1099-R Summary sheet under TAXABLE, on line 32c.

HOWEVER it causes the $333 on line 32a to GOTO ZERO !!!  OOPS !!!

[qbteachmt]

@Ron_Mc 

Are you working on a 2021 tax return and that is a 2021 1099-R? Because there is no such thing as covid distribution from Dec 30, 2020 and later.

[Ron_Mc]

Hi.  The small 1099-R is from 2021.

[Ron_Mc]

I discovered additional information that might help INTUIT to resolve this problem.  

I have another client that sort of has the #'s swapped...

Last year, 2020, we put in a SMALL COVID distribution ... only $240 !!   I guess we checked the box and it comes thru as taxable for $80 for each of 3 years.   This client is older and has more then $30k of current-year 1099-R's .... SO ...

I put in the 8915-E worksheet and low and behold it spit numbers back to the 1099-R Summary Worksheet ...  under TAXABLE line 25 it has $20k.   Then it puts in $240 on line 26e, and then I see it SUBTRACT the $240 from $20k and put $19,760. on line 32a.   Then it puts $80 on line 32c and add it to the $19,760  and puts $19,840 on line 32d.

If you CROSS-REFERENCE line 32a, it say that it is line 26, less the sum of 26a, 26d, 27,28, 28c, 29, and 30, plus the amount on lines 31 and 31a.

SOMEHOW they are INCLUDING line 26e in the "less the sum of" ... above...

Can't wait to see when they figure this out !!!