8915-f Repayment (401k)

[January09]

So in 2020, I withdrew my 401K and chose to spread out when I filed my tax return. Filling the 8915-f asked if I made repayment. I'm not sure how to proceed. In my 2021 W2 box, 12b (DD) shows the amount I contributed to my retirement plan. Is that considered repayment for what I took out in 2020? Is the amount on W2 box 12b (DD) I'm going to put in my 8915-f repayment?

[DianeW777]

No, the amount on your W-2 is not considered a repayment, it is a new contribution for the current year based on your wages in 2021. Code DD represents the cost of an employee's health care benefits. Code D represents the amount you contributed to your 401(k) in 2021.

Find the 2020 Form 1099-R which shows the total distribution you withdrew in 2020.  This is the amount you chose to pay tax on over a three year period if you did not repay it.  If you did not physically pay money back to the 401(k) outside of your pay then you did not repay any of the withdrawal.  You would enter zero.

Please update here if you need further assistance.

[DianeW777]

No, the amount on your W-2 is not considered a repayment, it is a new contribution for the current year based on your wages in 2021. Code DD represents the cost of an employee's health care benefits. Code D represents the amount you contributed to your 401(k) in 2021.

Find the 2020 Form 1099-R which shows the total distribution you withdrew in 2020.  This is the amount you chose to pay tax on over a three year period if you did not repay it.  If you did not physically pay money back to the 401(k) outside of your pay then you did not repay any of the withdrawal.  You would enter zero.

Please update here if you need further assistance.

[January09]

Thanks for the clarification. Oh yeah it's code D.