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How do I use Form 8915 to report my 2020 COVID-related retirement distributions?

by TurboTax• Updated 3 months ago

Form 8915 is used to report a disaster-related retirement distribution, and any repayments of those funds. For tax years 2021 and 2022, Form 8915-F replaces Form 8915-E, which was the form used to report 2020 COVID-related qualified disaster distributions. (How do I know if I qualify?)

Note: If you took a 2020 COVID distribution—and didn’t elect to pay tax on the entire amount—your 2022 tax return will include Form 8915-F, which reported the taxable amount for 2021 (one-third of the total amount of the 2020 distribution) and the amount to be carried forward to 2022 (also one-third of the total amount).

For instructions on how to enter your 2020 COVID-related retirement distribution, select the type of distribution you chose and follow the steps:  

If you took a distribution from a retirement plan (other than an IRA), follow these instructions: 

Note: If your TurboTax navigation looks different from what’s described here, learn more.

  1. Sign in to your TurboTax account.
  2. Open or download your 2020 tax return PDF (you’ll need this open for reference).
  3. Go to the 8915-E section on your 2020 return. 
    • Note: If you’re having difficulty finding 8915-E, open your 2020 tax return PDF,  hold down the Ctrl + F keys, and type 8915 in the search bar.
  4. Then, select Federal from the TurboTax menu.
  5. Select Wages & Income.
  6. Locate the Retirement Plans and Social Security section and select Show more.
  7. Select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).
  8. Choose the appropriate answer to Did you get a 1099-R in 2022?. 
    • If you received a 1099-R for 2022, enter the form if you haven’t already done so.
    • Select Continue.
  9. Answer Yes to Have you ever taken a disaster distribution before 2022?.
  10. Select Continue.
  11. Answer Yes to Did you take a 2020 Qualified Disaster Distribution?.
  12.  Select the box next to If this was a Coronavirus-related distribution reported in 2020 check box.
  13. Enter the amount from your Form 8915-E, line 4, column b, and select Continue.
  14. Select to complete Qualified 2020 Disaster Distribution From Retirement Plans (other than IRAs).
  15. Go back to the 8915-E section in your 2020 return.
    • Note: Form 8915-F won’t generate because it’s not required. You only need the 2020 8915-E info for your 2022 tax return.
  16. Review Part II of your 2020 8915-E form.
  17. See if the box on line 9 is checked. 
    •  If this box is checked, enter 0 in the first box under the section in TurboTax.
    • If this box isn’t checked, enter the amount from line 9 in the first box under the section in TurboTax.
  18.  Enter the amount from your 2020 Form 8915-E, line 10 into the second box under the section in TurboTax. 
    • If the box is blank on your 8915-E, leave the line blank in TurboTax.
  19. Enter the amount from your 2020 Form 8915-E, line 9 into the third box under the section in TurboTax. 
    • Note: If the checkbox on line 9 on Form 8915-E isn't checked, box 1 and box 3 in TurboTax will show the same amount.
  20. Enter any repayments you made on the following page.
  21. Select Continue.
  22. If you only took a distribution in 2020, answer No, I didn’t to the question, Did you take a disaster distribution in 2017, 2018, or 2019?.
  23. Select Continue to finish the section.
    • Note: If you receive an error message requesting a disaster name or type, enter Virus SARS-CoV-2 or Coronavirus Disease 2019 to clear the error.

If you took a distribution from a traditional, SEP, SIMPLE or Roth IRA retirement plan, follow these instructions: 

Note: If your TurboTax navigation looks different from what’s described here, learn more.

  1. Sign in to your TurboTax account.
  2. Open or download your 2020 tax return PDF (you’ll need this open for reference).
  3. Go to the 8915-E section on your 2020 return. 
    • Note: If you’re having difficulty finding 8915-E, open your 2020 tax return PDF,  hold down the Ctrl + F keys, and type 8915 in the search bar.
  4. Then, select Federal from the TurboTax menu.
  5. Select Wages & Income.
  6. Locate the Retirement Plans and Social Security section and select Show more.
  7. Select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).
  8. Choose the appropriate answer to Did you get a 1099-R in 2022?. 
    • If you received a 1099-R for 2022, enter the form if you haven’t already done so.
    • Select Continue.
  9.  Answer Yes to Have you ever taken a disaster distribution before 2022?. 
  10. Select Continue.
  11. Answer Yes to Did you take a 2020 Qualified Disaster Distribution?.
  12.  Select the box next to If this was a Coronavirus-related distribution reported in 2020 check box. 
  13. Enter the amount from your Form 8915-E, line 4, column b and select Continue.
  14. Select to complete Qualified 2020 Disaster Distribution (from Traditional, SEP, SIMPLE, and Roth IRAs).
  15. Go back to the 8915-E section in your 2020 return. 
    • Note: Form 8915-F won’t generate because it’s not required. You only need the 2020 8915-E info for your 2022 tax return.
  16. Review Part III of your 2020 8915-E form.
  17. Review the section on the form to see if the box on line 17 is checked. 
    •  If this box is checked, enter 0 in the first box under the section in TurboTax.
    • If this box isn’t checked, enter the amount from line 17 in the first box under the section in TurboTax.
  18. Enter the amount from your 2020 Form 8915-E, line 18 into the second box under the section in TurboTax. 
    • If the box is blank on your 8915-E, leave the line blank in TurboTax.
  19. Enter the amount from your 2020 Form 8915-E, line 17 into the third box under the section in TurboTax. 
    • Note: If the checkbox on line 17 on Form 8915-E isn’t checked, box 1 and box 3 in TurboTax will show the same amount.
  20. Enter any repayments you made on the following page.
  21. Select Continue.
  22. If you only took a distribution in 2020, answer No, I didn’t to the question, Did you take a disaster distribution in 2017, 2018, or 2019?. 
  23. Select Continue to finish the section.
    • Note: If you receive an error message requesting a disaster name or type, enter Virus SARS-CoV-2 or Coronavirus Disease 2019 to clear the error.

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