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Before you start:

  • The 8915-F is a new form starting in tax year 2021 for Qualified Disaster Retirement Plan Distributions and Repayments.
  • The 8915-E is for entering and tracking coronavirus-related retirement plan distributions.
    • In tax year 2020 this form is used to elect to spread the distributions over three years.
    • In tax year 2021 the 8915-E is a worksheet will show the distribution and track the information to generate the 8915-F.
  • The information from Form 8915-E and 8915-F will be e-filed with the tax return as an IRS approved statement.

Generating the 8915-F in ProSeries 2021:

Form 8915-F is now available in ProSeries 2021 and should be e-file ready on 03/24/2022. If you do not yet see the form go to the Update menu and choose Update Installed Products. Close ProSeries when prompted to install the update.

  1. Open the Individual return in ProSeries 2021.
  2. Press F6 to bring up Open Forms.
  3. Type 8915E to highlight the Form 8915E-T for taxpayer or Form 8915E-S for spouse.
  4. Click OK to open the Qualified 2020 Disaster Retirement Plan Distributions and Repayments Worksheet.
    • If this return was transferred to ProSeries 2021 after the updates on 02/24/2022 review the amounts that transferred from the prior year. The Form 8915-F will generate based on these amounts and be automatically calculated and e-filed with the return.
    • If this return was transferred to ProSeries 2021 prior to the updates on 02/24/2022 the carryover amounts will not be available on the 2021 return and will either need to be manually entered, or the return can be deleted and retransferred depending on the amount of work completed in 2021. Select the method below to manually enter the carryover, or re-transfer the return:

To manually enter the carryover amounts on returns transferred prior to 02/24/2022:

This method is recommended if your working on complex returns or have the return mostly completed for 2021:

  1. Open the Individual return in ProSeries 2021.
  2. Press F6 to bring up Open Forms.
  3. Type 8915E to highlight the Form 8915E-T for taxpayer or Form 8915E-S for spouse.
  4. Click OK to open the Qualified 2020 Disaster Retirement Plan Distributions and Repayments Worksheet.
  5. On the 2020 Form 8915-E Distributions Smart Worksheet:
    • Enter Line A if there were disaster distributions other than coronavirus distributions.
    • Check box B to indicate there were 2020 coronavirus related distributions.
  6. If the qualified distribution was from a retirement plan (Other than an IRA) complete Part II:
    1. Enter any repayments already made on the Part II Repayments Smart Worksheet above line 12.
    2. Fill out lines 12, 14 and 15 from the 2020 Form 8915-E.
  7. If the qualified distribution was from a Traditional, SEP, SIMPLE, or Roth IRA complete Part III:
    1. Enter any repayments already made on the Part III Repayments Smart Worksheet above line 26.
    2. Fill out lines 26, 28 and 29 from the 2020 Form 8915-E.
  8. The 8915-F will now generate automatically based on the entries on this 8915-E worksheet.

Identifying tax year 2020 returns that have a carryover for Form 8915-F:

With the 3/17/22 release of ProSeries Professional 2020 there is now a Client Analyzer Query available that will help you locate clients that may need the 8915-F in tax year 2021, 2022 and 2023. To use the query:

  1. If you have not already done so update ProSeries Professional 2020 by going to the Update menu and selecting Update Installed Products.
  2. When prompted, select Install Now.
  3. When ProSeries opens under HomeBase View: select Client Analyzer Queries.
  4. On step 1) Select Return Type, select 1040 Individual.
  5. On step 2) Select Query, select Qualified Disaster Distribution spread over 3 years.
  6. Click Go.
    • If you have any password protected returns enter the client level password or the primary password. Click Cancel to exclude the password protected return from the query.
  7. ProSeries will query the clients and show you the results at the end. Click Close to view the returns containing the distribution.
    • You can print the list by going to the HomeBase menu and selecting Print HomeBase.
    • You can export the list to a spreadsheet by going to the HomeBase menu and selecting Export View.