This is an update to our earlier January 19, 2022 communication (copied below for reference). 1040 Desktop Software Update 2022.015 was released today and contains Form 8915-F for TY2021.
Important Note: For returns completed in the software prior to .015, follow these steps to carry-forward the COVID-Relief Distribution from the TY2020 tax return:
- Go to Return Menu > click Y-T-Y Transfer (Year to Year) > click Reload.
If you have any questions on how to enter the TY2020 COVID-Relief Distribution in the new Form 8915-F for TY2021, please contact the uTax Partner Support Team at 206-209-2653 or email us at email@example.com. For more information on Form 8915-F, please refer to the information provided in our prior communication below.
Earlier Communication Sent January 19:
To Our Valued uTax Partners:
We have received some inquiries regarding when we expect to have IRS Form 8915 – Qualified Disaster Retirement Plan Distributions and Repayments Status for TY2021 available in the software.
- Note: Form 8915-E for TY2020 is being replaced this tax season with Form 8915-F.
The IRS has not yet released a final version of the new TY2021 form to software companies and it remains in DRAFT status since December 2, 2021. We do not have an availability date at this time.
Important! For returns that require this form (see below), we recommend that you do not use work-around line item entries in order to e-File returns prior to the availability of this updated form. This action may result in return (and refund) processing delays at the IRS.
Excerpts from information provided in the Form 8915-DRAFT instructions:
DRAFTS: Form 8915-F | Form 8915-F Instructions
Purpose of Form Use Form 8915-F to report:
- Qualified 2021 and later disaster distributions, if any
- Qualified 2020 disaster distributions made in 2021 or 2022, as applicable (coronavirus-related distributions can’t be made after December 30, 2020)
- Repayments of qualified 2020 and later disaster distributions
- Income in 2021 and later years from qualified 2020 and later disaster distributions; and
- Qualified distributions received in 2021 and later years
About Form 8915:
- Form 8915-F is a forever form. Form 8915-F is a redesigned Form 8915. Beginning in 2021, additional alphabetical Forms 8915 (that is, Form 8915-G, Form 8915-H, etc.) will not be issued. The same Form 8915-F will be used for distributions for 2020 and later disasters and for each year of reporting of income and repayments of those distributions. The boxes you check in items A and B will help us determine the exact year of the form you are filing, and the year of the qualified disasters, qualified disaster distributions, and qualified distributions you are reporting. Earlier Forms 8915 had a different alphabetical Form 8915 for each year of disasters and a different form for each year the alphabetical form existed.
About Form 8915-E Used for TY2020 Returns: https://www.irs.gov/instructions/i8915e
uTax will send an update to this communication when we have new information and/or immediately upon release of the final form.
If you have any questions about this information, please contact the uTax Partner Support Team at 206-209-2653 or email us at firstname.lastname@example.org.
The uTax Team