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DpRT
Returning Member

Clarification for Cares Act withdrawal with 3 year tax payback

I took a Cares Act withdrawal from in 2020.  I claimed the total amount of that withdrawal on my 2020 Turbo Tax return.  I filed my 2020 1099-R and filed a 8915-E all with Turbo Tax last year.  I opted to pay the tax on this withdrawal over 3 years.  I am filing with turbo tax again this year.  If I understand correctly, I will NOT enter any 2020 form1099-R information on my 2021 or 2022 return?  However, I will have to file a 8915-E for 2021 and 2022 when it is available on Turbo Tax?  Does this sound correct?

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3 Replies

Clarification for Cares Act withdrawal with 3 year tax payback

Yes, that is correct.

Clarification for Cares Act withdrawal with 3 year tax payback

Hmmmm...thought it was a form 8915-F  for this year?

.....and maybe next too (if the IRS doesn't change their mind and create another new one) 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Clarification for Cares Act withdrawal with 3 year tax payback

Yep...Missed the reference to the 8915-E which was only used for tax year 2020.  It is the Form 8915-F for tax year 2021

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