COVID 401k distribution

Forum|Forum|3 years ago
March 26, 2023
2 replies
18 views

Hi All

I need a bit of clarity. I took a COVID withdrawal from my 401k in 2020. I received a 1099R in 2021 and filed it on my 2021 taxes. Two questions:

1. Should I be selecting “Yes” for qualified Disaster Distribution prior to 2022? if yes…

2. Do I need to complete form 8915 if I paid all in 2021?

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DanaB27

Employee Tax Expert

No, you don't need to complete Form 8915-F on your 2022 tax return if you didn't elect to spread the distribution over 3 years and paid all taxes in one year. Please answer "no" to the "qualified Disaster Distribution prior to 2022" question.

To confirm, you took the distribution in 2020, received a 2020 Form 1099-R in 2021, elected to not spread it over 3 years, and reported it all on your 2020 tax return filed in 2021.

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