What to do about 8915F

[BevP]

If taxpayer did 3 years for distribution for the first year being 2020 and then paid back the full amount by may 1 2021 what needs to be done.  I was waiting for the 8915F to indicate the payback but must I amend 2020 as well.

[Just-Lisa-Now-]

Wait a few more weeks for the 8915F to be ready, or use this workaround

https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/8915-f-workaround/00/20...

the instructions arent final, but should be able to explain how the repayment works
https://www.irs.gov/pub/irs-dft/i8915f--dft.pdf

[TaxGuyBill]

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@Just-Lisa-Now- wrote:

the instructions arent final,

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Instructions have been final for over 3 weeks.

https://www.irs.gov/pub/irs-pdf/i8915f.pdf

[rbynaker]

If repaid in full you will amend the 2020 return and report the repayment on an amended 8915-E.  My read of the instructions, you will also report this on an 8915-F for 2021 and an 8915-F for 2022 (just reporting to show no taxable income due to the repayment).