Form 8915F

[rcooley25]

I just got an email from Brian Christian at Intuit and he says this form will be in the software on March 24th. I dont know if I should believe him or is this just more BS from Intuit. What do all of you think.

[Jim-from-Ohio]

I think Intuit is an honest company with dedicated employees and great leadership and this target date is real and the best estimate as of now. 

[IRonMaN]

I have posted a time or two saying that I thought it would be ready before the 31st so that sounds reasonable.  But there are two questions:

1.  Will the form work?

2.  Since we are talking Intuit, what will they break once they fire the form up?

[Just-Lisa-Now-]

I gave up waiting.  Those with refunds Im just completing the 8915F by hand and attaching as a PDF.  Create a 1099R with the same bank info as last year, with just the gross and taxable amounts  for 1/3 of the total distribution.  Done deal.   

Those that owe money, they dont care about waiting.

[rcooley25]

I am not happy waiting untill March 24th but it sure beats thwe hell out of March 31st.

[rcooley25]

Hey Iron Man, I hope you are right, This is one time I dont mind being proven wrong.

[rcooley25]

Unfortunately I am not one of those who are computer savy enough to know how to attach a pdf.

[rcooley25]

Just curious as to why you are asking will it work when all of the other software that Intuit has that  have form 8915f  is working just fine. Do you really think that Lacerte will be working  fine and Proseries might not? AS you know like others I am not happy about how intuit has handled this but I have a hard time beleiving that they would do something like putting out a form that does not work.

[IRonMaN · Accepted solution]

That was somewhat tongue-in-cheek.  You have to go back a couple of weeks to the first “fix” of estimate vouchers to be reassured that just because something is coming, it might not be quite what you were expecting 😬

[JonathanV]

Have you noticed if any of the returns are getting held or flagged? Have any of the clients received their money? We are wanting to go this route as well, just a little nervous that it may cause their money to be delayed. After last year's tax season, with some returns taking 6 months or more, we are just hesitant to try it.

[rcooley25]

I agree. I am hoping that I could get the tax returns that need 8915F but I certainly dont want to do something that will delay processing. Lisa has said that she is doing this but I dont know how she is making out getting the returns processsed.

[Just-Lisa-Now-]

@qbteachmt  I know you posted on another thread the IRS info that the 8915F is going to arrive at IRS as an attached as a PDF regardless if we do it or the software does it...could you add that info to this thread?

[SuzieQ1]

This is what I was thinking of doing, but putting the amount on 'other income'. 

I wonder why Drake and Taxwise have the form but ProSeries is saying 'IRS has not finalized'. 

In Feb they said mid March and now I can't find a date. 

[rcooley25]

March 31st

[Just-Lisa-Now-]

I think the IRS computers will be looking for that figure on the retirement income line (thats where other disaster distributions have landed the second and third years of reporting).

[qbteachmt]

The topic discussing the concept of making it an attachment manually, is here:

https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/8915-f-workaround/00/20...

In that, I posted directly from the IRS what the file name and description should be, and there is the discussion over which steps to take to bypass waiting for the program to do this for you.

[qbteachmt]

Did you see what got posted late yesterday:

https://proconnect.intuit.com/community/proseries-tax-news-updates/discussion/coming-soon-8915-clien...

And here is the article that explains -F:

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

[qbteachmt]

Did you see what got posted late yesterday:

https://proconnect.intuit.com/community/proseries-tax-news-updates/discussion/coming-soon-8915-clien...

And here is the article that explains -F:

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

[SuzieQ1]

Perfect... thank you

[JonathanV]

Just-Lisa-Now

When you fill out the 1099-R, what are you using as your distribution code?

[SuzieQ1]

I was going to use code 7, but I guess you could use code 1 and then back out the penalty with a 5329. 

[JonathanV]

I agree, I used code 7, manually filled out 8915F and then attached as a PDF.

I compared it to one generated by Drake Software just to make sure I didn't miss any line items.

[SuzieQ1]

We tried Drake one year, about 15 years ago.  The transition for 1500 clients was not smooth and we abandoned the switch.  

Maybe it is time to try it again.  They have probably gotten better at it- how was your transition? 

[JonathanV]

We haven't changed yet. A friend uses Drake at her office and she ran me a dummy client.

She recently changed from Lacerte to Drake and seems to like it. Most information can be imported, but the hardest part it just leaning the software and being efficient with time.

[IRonMaN]

"They have probably gotten better at it"

I don't believe it really has changed much since you last test drove it.  It's cheap and when you go cheap you kinda get the no frills version of software.

[rcooley25]

I haVEW BEEN USING CODE 2 EARLY WITHDRwl exception applies.

[lopezjoe]

Was the return accepted using that method?