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I am being told that the Federal Form 8915 is the same as the Tier 2 Railroad Retirement Benefits and that the prior years distribution is included in taxable pension?

If I dont add an amount my state taxes due goes crazy saying I owe for early withdrawal (not being retired) but I qualify for the disaster relief.
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1 Reply
Cynthiad66
Expert Alumni

I am being told that the Federal Form 8915 is the same as the Tier 2 Railroad Retirement Benefits and that the prior years distribution is included in taxable pension?

Please provide additional information. 

 

 How doe the Tier 2 RailRoadRetirement Benefits tie into your current tax return?  

 

What state are you living in?  Each state treats the Diaster Relief Distribution differently. 

 

Did you receive a distribution in 2020 that you elected to spread over 3 years or to repay?

 

Did you file form 8915-E in 2020 to make an election?

 

Explain the difficulty you are having with your state return in detail

 

In general, section 2202 of the CARES Act provides for expanded distribution options and favorable tax treatment for up to $100,000 of coronavirus-related distributions from eligible retirement plans (certain employer retirement plans, such as section 401(k) and 403(b) plans, and IRAs) to qualified individuals.

@whiskey1031

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