Cares Act Covid-19 distribution from 401k 2020 broken up over 3 years (2020, 2021, 2022) Did not receive a new 1099-R for 2021. Turbo tax doesn't ask for info for this?

[FloridaJo]

If you did not take a distribution in 2019 and you did not get a 1099-R then you are good.

If you got a distribution in 2019 and/or a 1099-R and it wasn't reported, then you have to file an amended return.

[Dorknut]

I took a distribution from 2020, Filed in 2021 to pay back to taxes over three years. I did receive a 1099-r last year when I filed for 2020. 

[FloridaJo]

If you did, then it should be in 4a 4b on the first page.   Do you see the distribution income anywhere else in the tax form?

[PV31]

where and when will the cares act form pop up on the turbo tax software app? I am at the wages and income section where I entered the amount last year and this year its $0, does it pop up elsewhere?

[PV31]

I must have not received the update yet for the cares act form, its still telling me to visit 1099 form.

[AmyC]

To get to the 8915-F, go into the 1099-R section edit, you may see 1099-R forms, click continue, the program asks Did you take any disaster distributions in prior years? Select yes. Continue through answering the questions. 

When you filed the 8915-E last year, you had to enter the disaster information.  It is required per Form 8915-F- Internal Revenue Service. You can look on last year's return for the information to enter or you can locate your FEMA information using this IRS tool.

@PV31

[turbota888]

When it asks if I took 2020 Qualified Disaster Distribution, I entered yes.

Following the instructions, I entered information from my 2020 8915-E form.  I opted to split my tax payment into 3 years and paid the FIRST 1/3 for 2020. Now I want to pay only the SECOND 1/3 for 2021, but it seems like turbotax forcing me to pay both the SECOND and THIRD portion in taxes for 2021.  Anybody else have this issue?  How can I fix this?

[DoninGA]

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@turbota888 wrote:

When it asks if I took 2020 Qualified Disaster Distribution, I entered yes.

Following the instructions, I entered information from my 2020 8915-E form.  I opted to split my tax payment into 3 years and paid the FIRST 1/3 for 2020. Now I want to pay only the SECOND 1/3 for 2021, but it seems like turbotax forcing me to pay both the SECOND and THIRD portion in taxes for 2021.  Anybody else have this issue?  How can I fix this?

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If you had a Covid-19 related distribution in 2020 and selected to spread the distribution over 3 years -

Answer No when asked if you received a Form 1099-R in 2021, if you did not receive the form

Answer Yes when asked if you took a disaster distribution

Answer Yes when asked if you took a Qualified 2020 Disaster Distribution

Check the box that this was a Coronavirus-related distribution reported in 2020

If the 2020 distribution was from an account that was Not an IRA

2020 Form 8915E Line 9 - Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 9

If the 2020 distribution was from an IRA account

2020 Form 8915E Line 17 -  Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 17

The 1/3 of the amount from the 2020 distribution will be entered on the 2021 Form 1040 Line 4b if from an IRA or on Line 5b if from a retirement plan other than an IRA

[turbota888]

Do I need to enter anything where it asks for the number for: 2020 Form 8915E, line 4, column b?

I did what you mentioned and entered the value from 2020 line 4, column b as well, but seems like the calculation in taxes owed is much more than it should be.

[DoninGA]

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@turbota888 wrote:

Do I need to enter anything where it asks for the number for: 2020 Form 8915E, line 4, column b?

I did what you mentioned and entered the value from 2020 line 4, column b as well, but seems like the calculation in taxes owed is much more than it should be.

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No, nothing need to be entered in the box for 2020 Form 8915E, line 4, column b

If the 2020 distribution was from an account that was Not an IRA

2020 Form 8915E Line 9 - Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 9

If the 2020 distribution was from an IRA account

2020 Form 8915E Line 17 -  Enter 1/3 of the amount from the 2020 distribution in both boxes for Line 17

The 1/3 of the amount from the 2020 distribution will be entered on the 2021 Form 1040 Line 4b if from an IRA or on Line 5b if from a retirement plan other than an IRA

[kandscakes]

I’m having the same problem as well.  I have no idea what is going on.  

[cathy_f]

I'm totally confused... I filled out the form, which is bizarre and confusing:

after I hit continue, it asked if I paid any back -- left zeros in both subcategories.

Said "no" to 2017,2018, 2019 disaster distributions

When I hit "Continue" it brought me back to the "Your 2021 Income Summary". The full covid distribution is still in the 2020 column, and $0 is in the 2021 column, and the total tax owed is exactly the same.

Next I go to 8915-F in the "Forms" section, and follow the IRS instruction. This takes me through the flowchart CHART 1. Since I did NOT check the box on line 17 on the 2020 Form 8915-E, the instructions are to complete lines 23-26 (lines 12-15 are for non-IRA withdrawals).

But TurboTax hasn't filled anything in on the form after the flowchart. Reading the form, I believe that

• lines 23 & 24 should have 1/3 of the distribution (the number I entered in the bottom box on the TT form)
• line 25 should say 0. because I told TT that I didn't make a repayment
• line 26 should have the 1/3 distribution (same as 23 & 24).

...so it looks like TT collected the numbers from me and then didn't enter them into the form?!?

I'm so confused!

[cathy_f]

Sorry in the previous post -- the message board software acts like I am allowed to insert a picture, but then doesn't display it. I took a screenshot of the turbotax form and annotated it describing how I filled it out.

I ran the form through OCR so now I will describe how I filled it out...

2020 Form 8915E, line 4, column b      put the entire withdrawal amount here
Qualified 2020 Disaster Distributions From Retirement Plans (Other Than IRAs)
2020 Form 8915E, line 9, if you checked the box on that line, enter 0
2020 Form 8915E, line 10
2020 Form 8915E, line 9
Qualified 2020 Disaster Distributions From Traditional, SEP, SIMPLE, and Roth IRAs
2020 Form 8915E, line 17, if you checked the box on that line, enter 0
2020 Form 8915E, line 18
2020 Form 8915E, line 17      put 1/3 of the entire withdrawal amount here

I put numbers in for

• the top line -- from the 2020 line 4, column b -- the entire distribution
• the bottom line -- from the 2020 line 17 -- 1/3 the distribution

All other lines I left blank because lines 9&10 from 2020 don't apply, and I didn't check the box on line 17 in 2020, and line 18 was blank because I didn't pay anything back in 2021 that would have appeared on line 18.

[Zincougt]

We file with TT every year. Will the information automatically pull through from our previous filings? It is really inconvenient to have to dig through all the lines of the tax return from multiple years. 

[DoninGA]

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@Zincougt wrote:

We file with TT every year. Will the information automatically pull through from our previous filings? It is really inconvenient to have to dig through all the lines of the tax return from multiple years. 

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If a 2020 Form 8915-E was included with your 2020 tax return, the information from the 2020 Form 8915-E will be transferred to the 2021 Form 8915-F when you start a new 2021 tax return with TurboTax.  If you are using the TurboTax online editions, you Must create the 2021 account with the exact same User ID you used to complete and file the 2020 TurboTax online tax return.