Please be aware, Form 8915-F isn’t available yet, please see IRS forms availability table for TurboTax individual (personal) tax products for details on when the form will be available.
Once the section is available follow these steps to report any repayment:
- Login to your TurboTax Account
- Click on the Search box on the top and type “1099-R”
- Click on “Jump to 1099-R”
- If you do not have any 2021 1099-R answer "No" to "Did you get a 1099-R in 2021?" (If you have any other 1099-R then enter all 1099-R and after entering your last 1099-R click "Continue" on the “Review your 1099-R info” screen)
- Answer "Yes" to the "Have you ever taken a disaster distribution before 2021?" screen
If you paid back the full amount then please remember to amend your 2020 tax return to get a refund on the taxes paid for the Covid distribution. Please see How do I amend my 2020 return?
For the Covid distribution, you were able to choose to have the distribution taxed over 2020, 2021, and 2022 instead of only in 2020. Furthermore, you’ll have three years to pay back the funds you withdrew, without the amount impacting that year’s cap on contributions. If you pay back the amount within that time, you’ll be able to claim a refund on those taxes paid when you file an amended tax return. Please see IRS Coronavirus-related relief for retirement plans and IRAs
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