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Level 1
posted Mar 24, 2022 8:00:42 AM

2020 Disaster (COVID) Distribution Not Working (Form 8915-F)

Form 8915-F became available today, so I was able to fill out the information for "Did You take a 2020 Qualified Disaster Distribution?" (i.e., inputting information from last year's 8915E).

 

However, I don't think it is working, for two reasons:

 

(1) My income and tax liability does not change after adding information about the 2020 distribution that I elected to spread over three years.

 

(2) When I wrap up Wages & Income, I receive a message that "You'll need to visit the Form 1099-R Retirement topic" after indicating that I took a disaster distribution in 2020.

 

Appreciate any help.

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1 Replies
Expert Alumni
Mar 24, 2022 8:22:03 AM

Please verify that you have the box checked next to "If this was a Coronavirus-related distribution reported in 2020 check here". If you made the withdrawal from a 401k plan then make sure you enter the amount from Form 8915-E, line 9 twice. If you made the withdrawal from an IRA then make sure you enter the amount from Form 8915-E, line 17 twice.

 

  1. Click on the "Search" on the top and type “1099-R”  
  2. Click on “Jump to 1099-R” 
  3. 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)
  4. Answer "Yes" to the "Have you ever taken a disaster distribution before 2021?" screen
  5. Follow the instructions on the screen

 

 

So for example, if you withdrew $30,000 from a 401k in 2020 and spread it over 3 years it would look like this:

 

 

In this example, you would have $10,000 on line 15 of Form 8915-F and 5b of Form 1040.

 

You can preview Form 1040:

 

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left