IRS form 8915-F is used to report a COVID-related retirement distribution and any repayments of those funds. What questions do you have?
In the 2020 and 2021 tax returns, the form was available in the Federal 1040 tax return under Wages & Income and Retirement Plans and Social Security.
The COVID-related distribution exemption was only for distributions made prior to December 31, 2020.
You had two options to pay tax on the distributions you took due to COVID in 2020:
- You chose to report the income over three years, starting with the year you received your distribution.
- So, for example, if you withdrew $15,000 in 2020 because of COVID, you'd report $5,000 in income each year on your return for 2020, 2021, and 2022.
- You would have selected this option when completing your 2020 tax return. The portion of the prior-year distribution to be taxed in 2022 will appear on Form 8915-F.
- You included the entire distribution as your income in 2020 and were taxed on the entire distribution at that time.
See also this TurboTax Help.
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