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How to enter coronavirus-related retirement plan distributions in Lacerte
by Intuit•1• Updated 2 years ago
This article will help you generate Form 8915-E, Qualified 2020 Disaster Retirement Plan Distributions and Repayments (or Form 8915-F in 2021 and 2022). These forms are used to report COVID-19 related distributions from an IRA or other retirement plan, like a 401(k). The taxable amount of qualifying distributions can be spread over three years.
Before you start:
Form 8915-F (Qualified Disaster Retirement Plan Distributions and Repayments) replaces Form 8915-E for 2021 and later years.
- Starting in tax year 2022, the IRS supports Form 8915-F as an e-file form. For years prior, completed Form 8915-F and 8915-E must attached as a PDF for e-filing.
- Qualifying coronavirus-related distributions made any time during 2020 can claim disaster relief.
To generate form 8915-F:
- Go to Screen 13.1, Pensions, IRA Distributions.
- Enter any 1099-Rs received in 2021.
- Click on Disaster Carryovers at the top left of the screen.
- Locate the Qualified Disaster Distributions (Form 8915F) section of the input.
- If you proforma'ed this client from Lacerte 2020 or 2021, some entries will already be made here.
- Enter or verify the disaster distribution information here.
- Enter any Repayments made before filing 2021 tax return, if applicable.