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Disaster Distribution

MGC94
Level 7

$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

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2 Comments 2
Just-Lisa-Now-
Level 15
Level 15
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♥¸¸.•*¨*•♫♪
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Tracey23
Level 1

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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