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Disaster Distribution
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MGC94
Level 7
03-28-2022
08:42 PM
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$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
03-28-2022
08:59 PM
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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
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Tracey23
Level 1
03-28-2022
11:00 PM
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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
