Form 8915F

[rcooley25]

We just got a post from someone who claims they have a friend that says 8915F is in his system and he has filed the return and it has been accepted. How can that be when the IRS has not released the form yet. Sounds to me like someone is pulling someones leg.

[IRonMaN]

It came from a Tax Slayer user.  Maybe they are a former ProSeries user and just wanted to get everyone riled up worse than they already are 😀

[rcooley25]

Your explanation makes a lot more sense than what he said does,

[Just-Lisa-Now- · Accepted solution]

Its finalized by IRS now.

https://www.irs.gov/pub/irs-pdf/f8915f.pdf

No more excuses.

[garman22]

No More Excuses

[rcooley25]

Oh Lisa, How  I hope you are correct.

[rcooley25]

Looks Good. How soon do you think it will be before pro series gets this into the system?

[IRonMaN]

October 14th😬

[rcooley25]

Intime for next tax season.

[sheree-berg]

Not in my Lacerte!

[IRonMaN]

This was a ProSeries post, but thanks for confirming.  We weren't aware that there was an issue in Lacerte 😶

[rcooley25]

Am I right in saying that having a form finalised and being released are two different things. While this much needed for has been finalised I dont see any indication that the IRs has released this form and we can be expecting it to be available any time soon.

[shirleynorris213]

I don't have form 8915-F in my Pro series program. I have a taxable coronavirus carry over from a 1099r for tax year 2020   I don't know if or when the 8915-F will be available. Is there any guidance you can provide for me?

[shirleynorris213]

The elusive form 8915-F is proving to be frustrating

[IRonMaN]

March 31st.

[rcooley25]

Is it the form itself or the fact that it is taking an act of god to get this into our software?

[rcooley25]

I have discussed this with some of my fellow preparers and the general opinion  is while doing what you are sujesting would give us the answer on the bottom line it might not be such a good idea to do it that way. The main reason we have that  opinon is that the Irs will still be looking for that payment thru 8915f and that could lead to some problems. If we knew that it would not cause problems I have a stack of returns I could send off right now. I hope Intuit surprises us and get the form done earlier but for right now it looks like we will have to wait untill March 31st.

[qbteachmt]

@shirleynorris213 

"Is there any guidance you can provide for me?"

It's part of your program, and on the web:

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

Form 8915-F, Qualified Disaster Retirement Plan Distributions and Retirements (Spouse)	Final on 03/31/2022, EF on 03/31/2022
Form 8915-F, Qualified Disaster Retirement Plan Distributions and Retirements (Taxpayer)	Final on 03/31/2022, EF on 03/31/2022

[rgimena]

Everyday I'm updating my ProSeries to check if form 8915-F is already available. It's still not, as of today 3/6/21. I have several clients who had taken coronavirus related distribution from their 401Ks or IRAs in 2020 and chose to spread out the taxable income over three years. Until now I couldn't complete their tax returns because the required form 8915-F has not been added. Now they are complaining, especially those who want to repay what's owed in 2021 and/or those who would still get refunds despite the distribution. IRS had already finalized the form two or three weeks ago. I heard tax pros who use Drake software are already able to transmit returns with this form. What's keeping ProSeries and Intuit?  Please advise.

Thank you

[rgimena]

Sorry, what I meant, "as of today, 03/06/2022"

[garman22]

We wonder the same thing. This form does NOT appear too complex on the face of it. I dont know why Intuit cant bring this form out sooner. 

Thankfully my clients who spread the distribution owe this year so.......

But I still believe Intuit is dragging their feet. 

[sheree-berg]

I accidently posted on this message board as I am a use of Lacerte and the form is installed.   You might want to call Intuit and make sure everyone else is having this problem in case the form is loaded and you have to reload your software.

[IRonMaN]

I don't think anybody needs to call.  Everybody, well almost everybody, knows the scoop by now.

[Emilio Di Iorio]

Thank you, Lisa. The form 8915-F is not available today (3/11/22) to select from inside my client file (ProSeries Professional Edition). I wish the geniuses at Intuit ProSeries provided for this last year by populating a carryover item. It is not in the carryovers today either. These guys at Intuit ProSeries are dangerous with my clients' taxes. Watch out for them. Now it's looking like 8915-F is manual? I am afraid to start my client's tax return today. I guess I should wait until 3/31. That is very very late, especially if the form is out on February 3. What a mess!

[qbteachmt]

"I guess I should wait until 3/31."

The update is scheduled for March 24, now.

[MDAROSA1]

Any new updates on this form?

[qbteachmt]

The link in this topic, and your program, both take you to Forms Availability.You can monitor this for yourself.

This is what is showing still:

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

[atoztaxes]

5:20am on east coast, can't get form to activate....

does not seem to be working yet....

[Emilio Di Iorio]

Yes. I just tested it. Form 8915-F is in there, but it needs the "Qualified 2020 Disaster Retirement Plan Distributions and Repayments Worksheet" - which is not there.

INTUIT PRO SERIES PROFESSIONAL - GET IT TOGETHER, GUY, PLEASE!!!!!

[Just-Lisa-Now-]

If you complete the 2021 8915E exactly like the 2020 8915E, it flows the correct figures to the 8915F.

Theyve got it together, you just arent using it right.

[Emilio Di Iorio]

But I have no 8915-E to file for 2021.

[Just-Lisa-Now-]

Select it from the list of forms and complete it just like the 2020 8915E was filled out.

[Emilio Di Iorio]

So I will select the 8915-E in my client's 2021 file, and check the box that it is for 2020 I.e. the distribution was in 2020.

So in effect, because the program failed to make a carryover, I am creating one, correct?

Does everything work correctly in terms of the taxes and the income being only one-third in 2021? If yes, I will proceed to test this and implement. Just have to make sure something doesn't explode later in another update.

And also, why doesn't the program tell us what you just told me? Why does the program tell me to go to a "Qualified 2020 Disaster Retirement Plan Distributions and Repayments Worksheet"? When no such Worksheet exists? - I know - don't ask why!!

[Just-Lisa-Now-]

"So in effect, because the program failed to make a carryover, I am creating one, correct?"

When I opened one for a new client (I didnt have them in 2020, so nothing carried over), it auto populated the info at the top of the 8915E for the Covid disaster. I just input the total amount of distribution in the smart worksheets and the program did the rest.

[Emilio Di Iorio]

Got it. Thank you, Lisa! I will do it as you described and test it.

[Emilio Di Iorio]

Test is successful!! Thank you, Lisa!!

The forms 89815-E and 8915-F are ridiculously long and wordy, but they work.

Best wishes to community.

[Jamierac]

Current year disasters such as hurricane IDA requires form 8915F.  At this time we can not use this since the 1099R  disaster worksheet has not yet been updated to include 2021.  The carryovers from 2020 do now work for those who took the 3 year spread in 2020.  Any thoughts?

[Morphioso]

Pt1- Is there a regulation preventing me from claiming the contributions in 2021 to the same plan that the 2020 8915 distribution was taken from is paying the distribution back?

Pt2- Won't I need the 8915F to activate in proseries to be able to enter the repayment amount or will doing so in the 8915E accomplish the same outcome?

Thanks

[qbteachmt]

"from claiming the contributions in 2021 to the same plan that the 2020 8915 distribution was taken from is paying the distribution back?"

If they were submitted as contributions, they are not also repayment. For instance, paycheck deduction for 401(k), or just now making a contribution to the IRA, but also trying to take it as deductible or not. Details matter.

"to be able to enter the repayment amount"

You have to read the instructions. We don't know anything about this person or their account type or how they filed the distribution treatment in 2020.

The two questions you have will include too many variables for people on the internet to answer. You have to look it up for yourself, and apply what is specific for that taxpayer's situation.