How To Report 2021 COVID Distribution On Taxes Update! Form 8915-F

TAX UPDATE: 2021 COVID Distribution Reporting Update. Form 8915-F Review.
***Hey all, this video is ONLY Intended for those who need to report the next 1/3 of their covid distribution for tax purposes for tax year 2021. At this time you cannot fully complete this task, because it is still in draft form. Draft forms should never be filed. Only final versions of a form should be filed with the IRS. The expected release date of 8915-F may still be a month away. This video is for educational purposes only and should not be considered tax advice.***
Draft Form 8915-F Instructions & Form 8915-F can be found here on the IRS website: apps.irs.gov/app/picklist/list/draftTaxForms.html;jsessionid=BUcL4eLeBNx-r5BTlrUEXOSq.20?value=8915f&criteria=formNumber&submitSearch=Find
📼 Complete tax video playlist: kzbin.info/aero/PLSofnwEEZdUwO76397C824IRz5xofXEQz
Chapters (Time Stamps):
0:45 Draft form 8915 f
1:05 Will you get a 1099R for Covid distributions for tax year 2021?
2:03 Where should you start
2:25 - 6:02 8915 F Example
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[@sherwinlouie2191]

Thanks! Super helpful....

[@thomasm.samuelson9883]

Thank you!

[@ginaperez5787]

Yes please make a video when the updated form is available 🍀🍀🍀

[@MoneyandLifeTV]

***Hey all, this video is ONLY Intended for those who need to report the next 1/3 of their covid distribution for tax purposes for tax year 2021. At this time you cannot fully complete this task, because it is still in draft form. Draft forms should never be filed. Only final versions of a form should be filed with the IRS. The expected release date of 8915-F may still be a month away. This video is for educational purposes only and should not be considered tax advice.***

[@jarnaginra]

Thanks! I was just looking at the 2020 8915e video and starting to worry about how to accurately report this year! Very helpful

[@MoneyandLifeTV]

Glad this helped :)

[@ruth5844]

thank you, I know it wouldnt let me do it.. really irritating.. I will keep watching to see when the IRS releases it'

[@SILVERHAIREDWOLF]

HI NEED HELP !! What about the federal taxes that were paid?? I took 41000.00 and claimed 13666 for 2020 and need to claim the 13666.00 for 2021, but what about the 4100.00 that was taken out in federal taxes? I claimed that entire amount in 2020 am I going to have to pay more federal taxes on my second 13666.00 for 2021???

[@harrisonsmith8195]

Excellent timely fed tax video

[@daboi9172]

Mike, I love you, man.

[@MoneyandLifeTV]

Haha no problem boss. I feel the love.

[@robertflowers588]

Wondering what to do because they already withheld all the taxes when I got the money from my 401k. The last two years I managed to do the taxes myself but now for 2022 it’s not quite the same plus, I was wondering if I already paid the tax how does that work? Thank you.

[@mshortin]

THANK YOU! You are a Godsend! I have been trying to figure this out for weeks. Multiple calls to Turbo Tax (they were clueless), called Schwab (helpful but referred me to a tax professional), IRS website (worthless), etc. It was extremely frustrating, now I have my answer. You are the best!

[@juukyj]

Just e-filed with TaxAct and it allowed me to manually add to my file from its docs the 8915-F. Thank-you so much for your informative video!! I'm so glad it all worked out. Now one more year :)

[@valeriykhizgiyayev9683]

Hi, You to manually add the 8915-F in turbtax?

[@juukyj]

@@valeriykhizgiyayev9683 Sorry I’ve never used TurboTax, try a support number perhaps?

[@doobersrandall6681]

I have yet to be able to file with tax act. It's asking for my 1099 form. Do I fill out another 1099r form even though I didn't get one

[@9Lai8]

Great info! Thank you so much. Please update this for the final form.

[@MoneyandLifeTV]

Here is the final video: kzbin.info/www/bejne/pWe2mpKYpr6ZZtU

[@9Lai8]

@@MoneyandLifeTV Thanks so much! You're a great help.

[@hbates3766]

Thanks for clarity. I took an IRA distribution January 2021 & thought it qualified for the 1/3 per year for 3 years, to defer taxing it all. Finding out the hard way, I was wrong. I thought they had extended it through June 2021.

[@qchawks571]

Thanks for the video. Has anyone heard solid information about e filing this form? H&r Block and Turbo Tax really have no clue, they keep pushing the date back and some CSRs say it won't be available at all this year.

[@jenniferhallex5836]

Wondering the same thing. Has me stressed out trying to file with TT

[@patriciaowen1680]

Great video, but what happen when someone pulls out of both there ira and there roth

[@ladymaisha]

Great video! Please make an updated one when the form launched

[@boatingchesapeake2481]

Yeah, and updated video on the final form would be amazing!!

[@johnsimmons2848]

Ty so much for the help!

[@cubancattle]

I think many folks on this forum have a question on tax withheld. Let’s say your employer withheld 10% of your total distribution in 2020. And you entered the 10% in 2020. Will the software know that you paid 10% in 2020 or do you need to enter the same amount each year. This is not a dumb question is a matter of how the irs wants it reported.

[@kenlynch6332]

so glad for this vlog I for 1 did completely forget this 3 year spread

[@MoneyandLifeTV]

I got your back Ken :)

[@globalfamily8172]

Do we need to make quarterly payments or risk penalty for underwitholding?

[@MoneyandLifeTV]

You may need to. I cannot say for sure though because everyone's tax situation is different, but to be cautious I would consider making estimated payments.

[@terriyanawilkens2773]

This is my first year receiving 1099r due to covid I need help this is driving me crazy never filed it any other year

[@waterawarness9105]

Thanks for the video. I got a COVID distribution from my 401K in 2020 and I paid all the taxes the same year and as a result didn't file the form 8915-E. Last year, I repaid all what I borrowed and now I want to report it on my tax return but the chart on 8915-F form says I can't use this form because I didn't file 8915-E form! what should I do?

[@margaretauxier7521]

I am confused, I understand the 1/3 goes in 5b, what goes in 5a for 2021 tax

[@a.w.6597]

Please do an updated video when the form becomes available. Thank you in advance.

[@daniellebickers8834]

The 8915-F is available as 2/04/2022. I was wondering I had 10% tax withheld from my 403 B for Covid 19 in 2020. How does the tax withholding impact the 3 year tax repayment? The previous 8915-E form did not have a place for the 10% tax that was withheld.

[@Spots101]

Mike, I love your channel. Have you ever thought of making a video explaining with an example how to fill a Form 2210 Underpayment of Estimated Tax for individuals. I think a lot of us go through that dilema every year. Hopefully you will find the time to do it. I know you must be quiete busy with your new practice.

[@MoneyandLifeTV]

Hi J. Luis, I have actually, but the form and calculation is so incredibly complex that usually the IRS calculates this amount for the taxpayer per the instructions because most taxpayers are not required to file the 2210 form. However, I may do a general explanation regarding underpayment of estimated tax penalties in a future video. Thanks for the suggestion.

[@salpremiers]

I would love if you can go back and revise once it’s ready.

[@MoneyandLifeTV]

Thanks for the feedback Sal.

[@rennykruse3921]

Disgusting how the irs can’t be ready for tax season with all of the forms. Why write a draft form? Just put the right forms out so people can file. So frustrating

[@MoneyandLifeTV]

I hear you Renny. Can't believe they haven't touched it since September of last year. Shows how far behind they are. Millions still waiting on unprocessed refunds.

[@viv1241]

Hey I need help please. What happens if the second year instead of putting 1/3 you did 2/3 Would I have to do an amendment or can I consider this a donde deal since I did it in two years instead of 3? First year I did 1/3 sencond year 2/3 and I now realized it when filing 2022 Thanks in advanced

[@ehernandez1982]

Lol just a quick video notification that it out so we know too.

[@charlescarson9933]

My wife has her own business and received a 1099nec. I didn’t realize that. Well I almost finished my taxes and fixed my error and now owe about $9000 more. Is this accurate ?

[@r2627]

Do continued contributions though payroll deductions count toward repayment?

[@MoneyandLifeTV]

No sir.

[@may291955]

Please do a video once the IRS has their forms ready ...

[@marilyndavis2675]

My state (OK) allows for a $10,000 exemption from income on 1099 R distributions. It worked fine in year one because I had a 1099 R on the tax return. How do I get the $10,000 exemption on the state return when I only have the 8915 F?

[@MoneyandLifeTV]

Hi Marilyn, not sure it sounds like you need to ask the software company that question. Sorry :(

[@ulisesflores1870]

What if I report everything on the 2021? But still is need to put on 2022 taxes?

[@MoneyandLifeTV]

What did you report on the 2020 return? If you reported 1/3 on 2020 taxes I believe you can report the next 2/3 in 2021 taxes, but you would need to double check the instructions. Technically if you reported the wrong amount on your 2021 you should file either a superseded return to correct it or amend.

[@ulisesflores1870]

@@MoneyandLifeTV Hi, On 2021 I reported the full amount, and pay taxes for the full quantity. This year 2022 still turbo tax requires again that form but im confused due if I needed to upload and get tax again for something that already pay. Thanks for your fast response

[@littabd]

Last year I didn't fill out the 8915 form for 2020 so basically I never reported my covid disbursement. I cannot seem to find any information on how to amend my 2020 taxes so I can report? Any help and guidance would be appreciated. Thank you so much for this video, wish I would have found your channel last year. 😔

[@MoneyandLifeTV]

Hi Alitta, great question. To amend you would need to file form 1040-x . You can find the instructions to the form on the IRS website. If you use tax software it should make the process a little easier. Also, have to consider the impact on the state return as well. Most states have an amended form version of their own.

[@darnitamar]

Thank you I really appreciate your time.

[@MoneyandLifeTV]

Hey Darnita! Thank you for all of your kind words.

[@WHD-ms4zv]

What if you’ve paid that loan back but in year 2021 and less than 12 months of taking it out?

[@DANTAXMiami]

This form has already changed a few times, it's DRAFT date is now 2/2/22. Can you please produce a revised video w the revised form 8915F? The highlighting and red marker indications are helpful. We appreciate all you do for the tax industry. Thank you, Dan

[@MoneyandLifeTV]

Thanks for the heads up Dan, I will take a look.

[@kylaren6337]

So say you took out 10,000 in 2002, and paid a 1000 penalty at take out. Would you have additional taxes on the 10,000? No, right?

[@MoneyandLifeTV]

I think you mean 2020? Yes, the distribution is still subject to normal income taxes unless it’s a Roth.

[@michaelcollins8316]

Ok the form is finalized could you please show if there is anything else we should know, thank you

[@Montanoo86]

This video was perfect just wanted to double check if I was doing it right

[@MoneyandLifeTV]

Awesome, glad to know it helped :)

[@togui222000]

I took 401k money in 2021 and got penalty by IRS , person in phone from irs office told me to fill 8915-f , what lines in that form I need to fill ? Thanks all

[@MoneyandLifeTV]

Hi Togui, sorry, but I am not able to offer specific line by line tax advice without being engaged to work with you as a client. I would advise seeking out an enrolled agent or CPA in the area you live to help you address this to get it filed properly. Thanks!

[@ruth5844]

This has been a huge head ache for me the last 2 days... I know its supposed to post and show the thirds, but it tries to add the whole amt to income.. I have about pulled my hair out.. then thought of looking here.. Following you , Thank you so much

[@lynnetteroberds2665]

My boyfriend said the same thing. His came out to the whole amount?

[@adamsnuggs]

Very helpful, better than a Google search. Thanks!

[@MoneyandLifeTV]

Glad it was helpful!

[@TheKado28]

Is the 8915 f form ready yet

[@sergeyparshin8682]

Please do an update video. Thank you

[@MoneyandLifeTV]

Hi Sergey thanks for watching and for your feedback.

[@Nurse_Mildred]

It's sad that the irs says hey do your taxes asap but don't give u the proper forms update when you get info please 🙂

[@MoneyandLifeTV]

Right! I hate when they lag on important forms such as this one. The last update was in Sept of last year it is like cmon!

[@Mr-ow3mk]

So turbo tax does this for you when you efile?

[@SmilinsShrinking]

Thank you for this video, and yes, I'd love a follow up video.

[@MoneyandLifeTV]

Thanks for watching and for the feedback :)

[@cecilia012685]

can i claim dorm 8915-d on my tax return for 2021

[@jack333p]

Yes, please do final form video

[@cesarmerejo7411]

Please do another video once the form is out... thanks in advance

[@MoneyandLifeTV]

Thanks for your feedback.

[@bannertraveller5879]

Well I'm screwed. I did not know about F8915 E when I did my taxes on H&R Block last year. I just put the info on F 5329 and marked that I had exception to the 10% penalty for early withdraw. Now I have filled out the F8915 E for 2020. Do you think I can just send this by itself to the IRS or should I amend the return? I can't do amendment on H&R if using F8915 they don't recognize it. HELP and thanks for this

[@bannertraveller5879]

Again my figures are right but I used the wrong form or not enough forms by not including the F8915 E. I am planning to report 1/3 for each of the 3 years and I DID have my Employer withhold extra tax from the 401K distribution to cover all 3 years

[@MoneyandLifeTV]

Hi Banner, I would look into filing a "superseded return" You can look up how to do it within the 1040 instructions it is easier than amending. I would start there.

[@bannertraveller5879]

@@MoneyandLifeTV oh never heard of that. I'll check into it. Thanks again. Have a great rest of your weekend.. Looking forward to more of your videos

[@kelseybussanmas6426]

What about 401k withdraws in 2021 that qualified under the Consolidated Appropriations Act that was signed in December 2020? We took a qualified disaster withdrawal in February 2021 and should also qualify for it to be split and not have the 10% penalty.

[@MoneyandLifeTV]

Hi Kelsey, thanks for asking. There are disaster and hardship distributions directly related to 2021. The best place to look and research these instances is view "Form 8915-F Instructions" it will lead you to the IRS website so you can determine what qualifies specifically for 2021. As far as Covid goes though, that hardship distribution was only applicable to tax year 2020 from everything I have read.

[@darnitamar]

Yes I would love to see you do a video once the form has been completed. You helped me so much last year with the 8915 E form. I followed your video step by step. Thank you again for your time

[@MoneyandLifeTV]

Awesome! Glad it was helpful last year. Really appreciate the feedback.

[@scottward1002]

@@MoneyandLifeTV Dear MNL TV Could you please send me a link to last year‘s form I would appreciate it very much I love your channel thank you so much I had AARP do my taxes and they were most helpful but I want to make sure that I try to understand myself thank you again

[@frankstewart9080]

What if the distribution was repaid between 2020-2021? Do we need to fill out any paperwork?

[@MoneyandLifeTV]

Hi Frank great question. Yes there are other parts of this form that will need to be filled out. I think the repayment line is within the same area of the form I showed in the video if I'm not mistaken. Please checkout the 8915-F instructions. If I do an update video on this form i'll try to cover it at that time.

[@mylabrown1420]

I dont recall filing a 8915E last year . I know I filed a 1099R . I’m spreading it over 3 years and don’t plan on repaying it . What should I do if I didn’t do the 8915E form ?

[@Lkirby1908]

I took out money from my 401k in 2020.

[@kaialoha-bs2gm]

Do you have a video for year 2022 on this?

[@MoneyandLifeTV]

Hi, I don’t sorry. My accounting practice has been keeping me so busy haven’t had the time or energy to create news videos for the channel recently.

[@mariobros6805]

Is literally the same info he has wonderfully posted. TurboTax has the forms available to file right now as of march 11th in case you wonder.

[@susanhunter2827]

I would totally love u to do that when it's available

[@drakeb6168]

I appreciate your explanations however there is one thing I am still lost on personally. IS this a form that is sent to you? I am not sure how the information is produced. I moved and lost a lot of paperwork during the transition thus making my situation seem hopeless.

[@SandraSanchez-nw2wo]

How would you enter the details for 1099R for 2021? My 3 year distribution is 13k., 13k was reported as income for 2020 along with $4500.00 paid in taxes. So the total gross distribution for 2021 would be 13k and what would box 2 for taxable amount be ?

[@jerrypascual401]

Yes please keep us up to date. Thank you

[@MoneyandLifeTV]

Thanks Jerry for the feedback.

[@konkorazon]

So proud of you!!

[@MoneyandLifeTV]

Thanks Karlha!

[@reltorem]

My client did his taxes for 2020 but didn’t receive documentation for the 1/3 split until later in the year. Will it be ok to do 2/3’s on his taxes this year?

[@dethhumful]

Can anyone tell me what the Diaster name is for the relief?

[@DrunknOdin]

Yeah Covid-19?

[@JaxonCrossTopic]

In your example, it was 90k distribution and 30k report over 3 years. In 2020 tax season, you entered 90k and 30k as taxable. Would you have to show the 90k again for the 2021 tax year or just the taxable amount of 30k?

[@tomt986]

Yes I would love to see you do a video once the form has been completed. I ve been looking all over internet try to find out how to do this, thanks thanks so much

[@MoneyandLifeTV]

Thanks Tom for the feedback.

[@Litefamilygaming]

Would I still need a 8915-f if I elected to pay the taxes in full (not spread over 3 years) on last year's return (checked the box in line 9 in 2020)?

[@MoneyandLifeTV]

Hi Carla, if all tax was paid in tax year 2020, I do not believe there is anything for you to do, but i would suggest double checking the instructions of the 8915-F just incase I'm forgetting something.

[@JTBball100]

Mike- thanks your video is extremely helpful, cannot wait for updated form version- thanks

[@michael4069]

please provide updated video when available!

[@gloriakatz82]

Thank you for clarify all of this!!

[@MoneyandLifeTV]

My pleasure Gloria!

[@furnnykm]

Hi!! What if I want to pay taxes on 2/3 for 2021 instead of 1/3? Then I can just be done with needing to file this again for 2022. How would I do that?

[@capellan2013]

Thanks for this info. Please do post the update once the firm is completed 👍.

[@MoneyandLifeTV]

Thanks for commenting and for the feedback.

[@mitchflorida]

I read that the final form version won't be available until sometime in March?

[@MoneyandLifeTV]

Thanks for commenting Mitch, that is what I heard as well.

[@mitchflorida]

@@MoneyandLifeTV The 8915-F form was finalized by the IRS effective February 4th.

[@cesarmerejo7411]

Great Video, You just answered the question I ask in the other video... Thanks!!!

[@MoneyandLifeTV]

Haha no problem Cesar, thanks to your question and many others I decided to make this video.

[@staceystrukel1917]

Do you recommend waiting to file until the IRS has released the final draft?

[@MoneyandLifeTV]

Hi, that is what I generally recommend, and what the IRS recommends as well. It is a pain to wait, but it will lead to the least errors. However, you can also confirm with your tax software provider. Sometimes they have additional knowledge, because the IRS has to give them info first on the updated forms that they can program into their software.

[@staceystrukel1917]

@@MoneyandLifeTV thank you! 😊

[@shawnsingleton3592]

Hello Mike, I have a question on the potential payback of Covid-19 early distribution. Say you take a 90K distribution in 2020, you pay claim 30K on Year 1 an pay the taxes. Now in year 2, you are considering paying the taxes or paying back the 30 portion for year 2. My concern is using post-tax money to pay back the 30K. This money was already taxed and now will go into 401K, only to be taxed again.... So the question is "does the payback amount get deducted from your Taxable income for the year you made the payback? " If I made 200K, and paid 30K back to my 401K distribution, would by Taxable income be 170K? Thanks for the help and great videos.

[@MoneyandLifeTV]

Hey Shawn great questions. The timing of the repayment is very important in regards to how things are treated. Depending on when a repayment is made, you may need to file an amended tax return to refigure your taxable income. Either way you should check the 8915-f instructions to determine what needs to be done. Any repayments you made will reduce the amount of qualified disaster distributions reported on your 2021 form 8915-f if the repayment is made before the due date of your 2021 return. If you pay it after the due date you may need to look at amending or carrying forward to the next year. The payback (if made before the due date of your 2021 return) will reduce the amount of the distribution you need to report. So if you need to report 30K but payback 30k it will neutralize the tax affect. It will not reduce your other forms of income, but it will reduce the amount of the distribution you were going to have to report. Once again please double check the instructions. To the best of my knowledge this is how it works, but I would need to dive deeper to be 100% certain. Hope that helps.

[@AlliNW0nderland.]

If I need to amend my Form 8915-E, will I still be able to move forward with e-filing the Form 8915-F with the new information? Or will that cause an issue once the IRS received the amended E form?

[@susiekelly4322]

Always helpful information!

[@MoneyandLifeTV]

Thank you Susie!!

[@louistrott6452]

Mike, thank you for the info. We claimed a third for tax year 2020, and paid the rest back later in 2021.My question is, how do we prove to the IRS that the money was paid back? Thank you in advance.

[@MoneyandLifeTV]

Hi Louis great question. You can double check the 8915-f instructions, but I do not believe there is a burden of proof other than reporting the repayments on the form. It could be that the broker/plan admin has the responsibility to list repayments in their tax filings to the IRS. What I would do though for your records is keep a copy of the repayment as proof it was done incase you were ever selected for audit. Your broker should be able to provide something to show this.

[@edalvame]

Perfect instructions. Thanks!!!

[@MoneyandLifeTV]

Thank you! Really appreciate the feedback.

[@Naruto735]

Thank you very helpful! If going by the example and you enter in amounts for your third on line 12, what goes in line 9?

[@luisahernandezmunoz8332]

Can you do a video of Dividends. May be dividend aristocrats thanks

[@MoneyandLifeTV]

Hey Luis, thank you for commenting. Would love to do more dividend update videos at some point, but at the moment I'm starting a business and will be shifting more of the content focus towards those areas. However, I will do more investment videos that relate to business and investing at some point in the future. I have learned that if I diversify my content too much my channel will not grow unfortunately. I have contemplated starting a channel specifically for investing videos.

[@louistrott6452]

Thank you for your help. very helpful.

[@MoneyandLifeTV]

My pleasure Louis!

[@melissa-kx7ol]

I just wanted to say thank you !! Your video last year was so helpful and I was able to file my own taxes with confidence. Not even the live agents from the tax software could answer and explain how to do this properly. God Bless you !!

[@tommyvasquez111]

You did a good job--thank you for clarifying

[@MoneyandLifeTV]

Thank you Tommy!

[@calendarbumb4037]

Yes please Mike, I do want to see a Part 2…and also, can you show us where to put a complete repayment? Thanks again.

[@MoneyandLifeTV]

Hi Calendar Bumb thanks for the feedback :) I will consider doing a video for the repayment. Thanks :)

[@quidrelalewis7242]

Yes, please do an updated video when the form is finalized. The video from last year was very helpful. Hey Mike, I understand how to spread the taxable income over a three year period. What I don’t understand is what to report for tax withholdings for 2021 tax year. So my question is, do I report federal tax withholding for all 3 years or just 2020.

[@1DansBlues]

Thanks for the update Mike. I see another brutal tax season cometh. Come to think of it 2020 tax season isn’t over. It doesn’t end till Feb 15. Thanks to Hurricane Ida.

[@MoneyandLifeTV]

Hey Dan! Sorry you are still dealing with the aftermath of Hurricane Ida. Two tax seasons in one? I'll be praying for you sir.

[@DavidBrown-ge6kx]

Thank you! Exactly what I needed!

[@cubancattle]

This is an extremely helpful video. Thank you.

[@MoneyandLifeTV]

Glad it was helpful Carlitos thank you :)

[@Triniboi05]

Thanks for the update. This confirms that my CPA did it correctly. I review all my tax forms. Please do an update! Your channel is my official source of tax update information! Thanks!

[@MoneyandLifeTV]

Thanks Jay R you don't know how much that means to me. Glad your CPA handled this correct. :) Appreciate the feedback.

[@nataliemannon3230]

PLEASE REPORT THE NEW FORM IF IRS UPDATES

[@MoneyandLifeTV]

Thanks for the feedback kNatalie, and for watching.

[@MoneyandLifeTV]

Chapters (Time Stamps): 0:45 Draft form 8915 f 1:05 Will you get a 1099R for Covid distributions for tax year 2021? 2:03 Where should you start 2:25 - 6:02 8915 F Example

[@tgreenland]

I got a 1099r for 2021 that was from my retirement plan from my annuity that was a covid relief distribution. I got the money oct 2021. Do I have to pay the tax and 10% penalty. They took 20% off the top. I did not work in 2021 either. I'm stuck on turbo tax account telling me that they are waiting on the 8915e-t from the Irs. Turbo Tax showing I'm getting all the taxes back at this point. Any words of wisdom here?

[@brendaray3584]

Thank you!! You made my life easier trying to figure out this form!!! You are appreciated!

[@MoneyandLifeTV]

You are so welcome! That is my goal :)

[@adamkuhn5061]

Thank you! This was extremely helpful. I would love an updated video if anything significant changes please.

[@MoneyandLifeTV]

Thanks for letting me know Adam and thanks for watching.

[@aishashanice9205]

Thnx for this. I hadn’t been able to find much info on this and you’re the only person I’ve seen to do a vid so far!

[@MoneyandLifeTV]

Thanks Aisha! I realized there wasn't much information out on this when I was compiling the information for this video.

[@DonnieKluck]

Great video I would love an updated video once the final form is released. Thanks again really helped me out since I was stuck trying to figure it out and trying to figure out where I would get a 1099-R to report this income from for year 2 of the 1/3 reportable income.

[@angelwluck1]

Really appreciate this! I was hoping you would do a video on how to do this year's and when I searched here it was. Very appreciative!! Now I just need the form to become available, lol

[@MoneyandLifeTV]

Awesome :) Hopefully the IRS won't lag too hard on this one.

[@romangarcia4484]

I believe the final version for this form was ready this past February 4, 2022. Thanks for sharing this video, really helpful.

[@harrisonsmith8195]

Excellent video! I use the download version of HR block tax SW. Their latest update did NOT cover or include Form 8915-F. Now I'll have to rework the data in the 1040 forms and submit a paper return instead of e-filing. What a crock!

[@amolyneaux3506]

I ran into this same issue. They charge all this money for a half-done software.

[@harrisonsmith8195]

@@amolyneaux3506 HR ran out of time since the IRS didn't publish final Form 8915 until March. I waited 2 hours on their support line 4/15 to be told I had to buy the online version to get that form. Instead, I just downloaded it from IRS.gov and combined that with the HR program. So I had to file on paper by mail but it was a proper workaround.

[@amolyneaux3506]

@@harrisonsmith8195 Did you just override line 5b on the 1040 and then just include the form 8915-f with the return when you mailed it in? I spent hours waiting for an HR chat rep for help, to be then transferred to tier 2 because she didn't know the answer to my questions. Very frustrating.

[@harrisonsmith8195]

@@amolyneaux3506 you're on the right track. I added a dummy retirement income entry using the same taxable amount from last years 8915-E. So this created the correct total in HR seen on 1040 line 15b. Since I filed the fed return on paper, I could include 8915-F in place of the dummy retirement form. I'm not home now, but if you still have questions, let me know and I'll look it up later