1099-R

Forum|Forum|4 years ago
March 9, 2022
1 reply
1 view

Hello we took a distribution in 2020 from our IRA that qualified under the covid disaster. We chose the 3 year option to claim the income. We haven’t received another 1099-R this year so do we just use the 1/3 amount that we used last year? Also do we show the entire distribution again this year in the amount and just put the 1/3 amount in the taxable area?

DanaB27

Level 15

No, you will not get another 1099-R. Only 1/3 will be entered as taxable.

Form 8915-F, to report the 2nd part, isn't available yet but should be available in TurboTax shortly. Please see IRS forms availability table for TurboTax individual (personal) tax products for additional information.

Once the section is available follow these steps below to report any further tax to be paid or any repayment. TurboTax will walk you through this section how to enter everything once ready.

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