Disaster Distribution

Forum|Forum|4 years ago
March 29, 2022
1 reply
4 views

$40,000 1099-R $13,349 Taxable amount because of 3 year distribution 8915-E Qualified 2020 Disaster Retirement. Had a different preparer last year. How do I make it to do this year and following year 13,349.

Can someone please help me out with this? Thank you in advance

ProSeries Professional

This topic has been closed for replies.

Just-Lisa-Now-

Intuit Community Champion

Open the 8915E, mark the 2020 Covid checkbox near the top, put the 1/3 amount on either line 12 (non IRA) or Line 26 (IRA) that will carry it over to the 8915F and `1040 Line 4b/5b

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

T

Tracey23

Level 2

Thank you Just-Lisa-Now-!!!

This worked for me as well. Now I need help with the regular retirement TP is receiving. Once I entered the information for the second year of disaster retirement repayment-- the program only taxed TP on the repayment and not on the 2021 retirement. What did I do wrong? Should the total amount in pensions taxable (Line 5b) end up more than the the amount received by 1099 (Line 5a)? Pension was $75740 and repayment is $48061

Any help is greatly appreciated

Thanks

Tracey23

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