qbteachmt
Level 15
04-18-2022
03:40 PM
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Bad news, from the Form 8915-F instructions:
"What Is a Qualified Disaster Distribution? <== QDD
For 2021, qualified disaster distributions are:
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The qualified 2019 disaster distributions for the Puerto Rico Earthquakes (DR-4473-PR) reported on 2021 Form 8915-D, or
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The qualified 2020 disaster distributions for qualified 2020 disasters reported on 2021 Form 8915-F (2020 disasters)."
I read various articles and I think this one is helpful: https://wilkecpa.com/qualified-disaster-related-distributions-from-retirement-plans/
"The qualifications to obtain a QDD are complicated. Before a QDD can be made, the following must occur:
- A declaration by the President of a major disaster pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act, during the period beginning on January 1, 2020, and ending on the date 60 days from the enactment of the act (i.e., February 25, 2021), if the “incident period” began on or after December 28, 2019, and on or before the date of the enactment of the Act (i.e., December 27, 2020).
- The “incident period” is the period of the qualified disaster as specified by the Federal Emergency Management Agency (commonly known as FEMA). However, the disaster must have been declared between January 1, 2020, to February 25, 2021, AND the incident period must have begun on or after December 28, 2019, and on or before December 27, 2020."
The TX ice storm occurred in Feb. 11-21, 2021 (incident period) and was declared Feb 19, 2021.
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