If you filed Form 8915-E in 2020 because you took a retirement distribution due to COVID-19 hardship, then the IRS will require you to file a 8915-F this year.
Please be aware that these instructions are only if you previously filed the 8915-E on your 2020 return.
You will create this form 8915-F in the program under the:
- Federal Section
- Income (Select My Forms)
- 8915-F
What if I claimed the full distribution?
If you elected to claim the full distribution in 2020, but filed the 8915-E so that the distribution was not subject to the 10% early withdrawal penalty then you will check the box at the top that states " 2020 Form 8915-E, Line 9 or Line 17 is checked." You will then continue to report the full amount of the distribution you claimed in 2020 on the line for "Income for prior years from non-IRA retirement plan qualified disaster distributions" or "Income for prior years from IRA retirement plan qualified disaster distributions" appropriately.
Note: If this "2020 Form 8915-E, Line 9 or Line 17 is checked" Box is checked; then no taxable distribution will reported on your 2021 return. You can always review your copy of your 2020 8915-E to see if line 9 or line 17 has the box checked prior to filing to be sure you report this correctly.
What if I distributed it over three years?
If you elected to distribute the distribution over three years, you will not check the box at the top that states "2020 Form 8915-E, Line 9 or Line 17 is checked." You will need to report only one third of the total distribution on the line for "Income for prior years from non-IRA retirement plan qualified disaster distributions" or "Income for prior years from IRA retirement plan qualified disaster distributions" depending on the type of your retirement account.
Any repayments that were made during 2020 or 2021 should be reported on the fields following the distribution only if you did make repayments to the retirement account.
You can review the IRS instructions for the 8915-F for this and additional information here.