To report the income on your return, go to the
- Federal Section
- Income
- IRA/Pension Distributions
- Add or Edit a 1099-R
- Make the entries for boxes 1,2 and 7
- After continuing, you will be asked if the distribution is for a qualified disaster retirement plan distribution for the current year.
- Click Continue to enter the specifics about your distribution
What is a qualified Disaster Distribution?
For 2021, qualified disaster distributions are:
- The qualified 2019 disaster distributions for the Puerto Rico Earthquakes (DR-4473-PR) reported on 2021 Form 8915-D, or
- The qualified 2020 disaster distributions for qualified 2020 disasters reported on 2021 Form 8915-F (2020 disasters).
Coronavirus-related distributions can't be made in 2021.
What if I got more than one distribution?
If you received more than one distribution for the tax year, all distributions must be treated the same way.
Complete the following forms to report the distribution:
- Form 8606 to report the distribution from a traditional IRA and keep track of your basis (if basis is more than $0)
- Form 1099-R to report the taxable income on your return
- Form 8915-F to report the distribution will be spread out over 3 years
- May need to complete Form 5329 depending on distribution code to prevent the additional 10% penalty for early withdrawal
You must also designate on your return that you were affected by a natural disaster. Please report:
- Basic Information
- Personal Information
- Additional Personal Information
- Check the last box under Taxpayer's Information and another box will appear
- Select the natural disaster, from the drop-down menu that affected you
- Select Enter Disaster Designation, if the natural disaster you need is not listed. Select this designation and another box will appear for you to type a description