Form 8915F

[rcooley25]

I was finally able to get in contact with intuit and they informed me that it looks like that form will not be in our system untill about 3/17/22 and there is nothing we can do about it. Boy are we ever going to have some unhappy tax clients.

[IRonMaN]

3/17 for that and 3/17 for the 2210.  Looks like tax season isn't going to start until 3/17 for some tax preparers.

In it affects you, remember to vote:

https://proconnect.intuit.com/community/proseries-tax-idea-exchange/2210-release-date/idc-p/188728#M...

[qbteachmt]

You can follow forms release update info here:

https://proconnect.intuit.com/proseries/forms-finder/

[garman22]

I wonder if this is software wide or Intuit only? Embarrassing if its only Intuit. I'll dbl check with UT. 

[rcooley25]

It is my understanding that the drake software  has the rough draft in their system but that does not mean anything if the IRS has not released the form. What I am planning on doing is going ahead and prepare the tax return so the client will know what the answer is and give them a copy of the return. But I am going to inform them that the tax return will remain in my computer untill the forms are approved and in the sytem around March 17th. I will also tell the taxpayer if they choose to go someplace else with their business they will find the same problem there also.

[garman22]

that would suck if its Intuit's issue. I will tell my people that I must sit on them until 03/17. Most if not all trust me implicitly. I dont like it but......PS is still a good software for me (for now 😉).

[rcooley25]

I don't know why but something tells me that it is not an intuit problem but an IRS problem which should not surprise anybody.

[Just-Lisa-Now-]

You wont be able to give them a complete copy of the return without that 8915F.

Im not sure if stockpiling rules apply when holding a return waiting for a form to finalize, if so, they'd still need to send you a new 8879 dated within 3 days of Efiling, so you may want to wait to give them a copy when the form is final and you can get a freshly signed 8879.

[IRonMaN]

It's not an IRS problem or an Intuit problem - it's a tax preparer problem.  We are the ones always left to mop up the mess left by Congress, the IRS, or Intuit. 

[rcooley25]

oh yes you will. Put the info into 1099r with the one third amount and tell them you cannot filed the form untill 8915F is finish but at least they wi;l; know the answer on the tax return. Then remove the 1099r from the tax return and then wait untill 8915F is in our system.

[IntuitGabi]

For the latest on 8915 please take a look at this article: Generating Form 8915 in ProSeries
The article will be updated if we have new information. 

[qbteachmt]

"as an IRS approved statement."

"Currently the 8915-F is still in development and not yet available in ProSeries 2021. Once Form 8915-F is available carryover amounts will need to be manually entered from the 2020 8915-E"

Yes, thank you.

[rcooley25]

Thank you for this information. I was assuming that we would have to enter the information from 2020 manually. That should prove to be a minor inconvience.

[dbtaxsolutions]

Brilliant Idea I must say. I wish the release date would come sooner though, I guess your way we can collect payment at least ...

[rcooley25]

I could not agree with you more. With all of this added responsibility is the main reason I increased my rates this year.

[fth]

Does this mean the income from 2020 required to be taxed in 2021 will also increase 2021 Modified AGI and/or other total income amounts used for thresholds (etc) to determining eligibility for certain credits and the like?

[Anonymous]

FYI - I am using TaxAct in addition to ProConnect Online (long story) and they said their 8915-F will be available on 2/21/22.  

[rcooley25]

Lets hope  Intuit gets the lead out and does the same thing before March 31st.

After spending what I have spent for pro basic I dont feal like paying for another tax program this tax season.

[VINCENTTAX]

I called the Intuit Pro Series customer service a few days ago and was informed that the form will be available on Feb. 17, 2022. I have many clients that are filing taxes with Form 8915-F. March 17, 2022 is too long to wait and will cause frustrations. I'm thinking of switching to a better tax software. I hope they realize that many are unhappy. 

[rcooley25]

March 17th would be better than  March 31st which is what the rest of us are being told

[cantontaxgroup]

The manual entry of carryover amounts is ridiculous. Seems it would have been a very simple task for Intuit to include the amounts in the homebase transfers and then access them in the software needed for the new Form 8915-F.

[IRonMaN]

Kinda hard to transfer the prior year info if folks have already transferred the client over to the new year ---------- which is what most folks tend to do.  But in reality, how much data entry is it really going to take?  It's not like folks are going to have to reinvent the wheel before they can proceed with completing form 8915F.

[TaxWizard]

Could not agree more!

[tccpa1982]

Creating a new 1099-R for reporting the one-third additional income from the disaster in 2020 may create a 10% penalty for early withdrawals if the client is under 59 1/2 years old.  I don't think it will be penalized in 2021 and 2022 for early withdrawals, so sticking it temporarily in "other income" may be a better alternative.

[IRonMaN]

Or waiting for the form could be an even better and safer alternative.

[rcooley25]

Fine except for one little detail. The IRS says file on form 8915F

[cimeron01]

Is there any new information on the 8915-F? March 17 has finally come, I updated my program, and I still don't see the form. The update list showed 8915-F and that it will be finalized on the 24th, but I thought it would at least be available to work with today. Has anyone been able to find it yet?

[qbteachmt]

It was originally scheduled for March 31; then, March 24. I never saw the Forms Availability page showing March 17.

[dclearyea]

I just updated my program as well and no 8915F.  I'll try calling ProSeries tomorrow and see if they have an update on it.  

[rcooley25]

Use code  2 for early withdrawl and no penalty will be calculaed.