Trying to finish the qualified disaster Form 8915F, However its adding the full amount I took out in 2020 to 2022 income not 1/3 why is that? its increasing my taxbracket
Form 8915F qualified disaster covid-19 2020 retirement fund withdrawl
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3 Replies
MarilynG1
Expert Alumni
Mar 9, 2023 4:25:15 PM
If you indicated you took a Disaster Distribution in 2020, TurboTax asks for info from your 2021 Form 8915.
I did do that but it’s taking the full amount I took out in 2020 and adding it to my income making me in a way higher tax bracket. I divided it over 3 years so it should only add 1/3 to my income not the full amount.
DanaB27
Expert Alumni
Mar 10, 2023 6:47:48 AM
To clarify, what lines do you have filled out on your 2021 Form 8915-F? And is the 2021 Form 8915-F showing correctly 1/3 of the 2020 distribution?