When will the 2021 8915-f form be available on Turbo Tax to efile?

[fanfare]

@JW97 

 amount of taxes that I know isn't correct. 

Why do you know that?

if you took a large distribution in 2020 the tax on even one third of that can be a lot of tax.

[salmajuma]

OK it is there now!! Not sure what changed but line 4b on my 1040 has the 1/3 distribution. My refund did not change, but as long as I know the form worked. I'll keep going through the rest of the stuff. 
Thanks everyone 🙂

[JW97]

Not $11,500 dollars. I could have paid the taxes off the first year for less

[fanfare]

not possible. the tax brackets changed little from 2020 to 2021.

[fanfare]

@JW97 

 if you could have paid it off for less, don't file 2021 now.

Amend your 2020 tax return, check the box to not divide by 3.0 and pay it off for less.

[Jedi4380]

Could it be working for 401ks and not IRAs? It seems the line 17 folks like myself are the ones questioning the calculation more. I’m using TurboTax Premier for Mac if it matters. I have a fairly complicated return and don’t want it to be kicked back or flagged because of an issue here. 

[tfabian88]

I'm in the same position. I am looking at my 1040 for 2020.  Both my spouse and I pulled out $23,951 all together ($17,952 for myself and $6,000 for my spouse) together and on line 5b, it shows $11,984 as the taxable amount ($5984 for myself and $6,000 for my spouse).  When I scroll down to the 8915-E for myself, it shows $5984 being taxed and 6k for my spouses 8915E.  Is she being taxed again on the same $6,000 that was taxed last year???

[fanfare]

@tfabian88 

did your spouse not elect to divide by 3.0?

on the line where it says," if you checked the box, enter 0", you need to enter 0 for spouse.

and, you should end up  not even filing 8915-F-SP (spouse).

[TravisTractor]

Drop down will be updated with valid COVID list when pigs fly. FFS! The form is being used for COVID by 99% of the people!!!

[tfabian88]

On her 8915-E, line 9 the box is checked for "if you elect NOT to spread the taxable amount over 3 years.   So that means she paid her portion of the taxes for her 6k withdraw on her 2020 return, right?

[tfabian88]

@fanfare On her 8915-E, line 9 the box is checked for "if you elect NOT to spread the taxable amount over 3 years.   So that means she paid her portion of the taxes for her 6k withdraw on her 2020 return, right?

[fanfare]

see comment above.

[tfabian88]

@fanfare Perfect!  Why is it asking me though on Turbo Tax for the info on her 8915E then?  Should I just select "No" when it asks if she withdrew?

[tfabian88]

@fanfare  I am such a blonde!!! This is what TT says.... 2020 Form 8915E, line 9, if you checked the box on that line, enter 0.  I entered 0, so no I'm good!!  Thanks!

[drwho1]

I am using the online TT. I created my 1099-R using my 2020 form I got when I took out the qualified withdrawal. I entered all of the information and my refund took a major nosedive. However, when I proceeded through a few questions I came to a  part where I can select "I took out this money due to a qualified disaster".

My return immediately jumps back up, and on the surface appears to take into account 1/3 of that amount. A few questions later I can select "Yes, this was a Qualified 2020 Disaster Distribution"

I then get to this.... "For the Qualified 2020 Disaster Distribution reported, we need to know which disaster affected you."

There is a drop down box with lots of options, but none of the options are due to the coronavirus. The options are only state disasters that are storm related.

Where are people selecting it was due to the Corona Virus?

I have went through this whole 1099-R part 5 times and can not find anything that I can relate to the corona virus