For tax years 2021 and later Form 8915-F has replaced Form 8915-E.
Follow the instructions below to successfully complete Form 8915-F:
- Add Form 8915-F.
- Select the checkbox for tax year 2020.
- Select Worksheets from the Active Options Window.
- Complete Lines 9-18 as needed. The type of retirement account the customer withdrew from will determine which line is needed. If they withdrew from different types of accounts then you may need to complete multiple lines.
- In the applicable line enter the amount of the distribution to be taxed in tax year 2021. In the case of a COVID distribution this will be 1/3 of the total distribution from tax year 2020.
- Scroll down to the Detailed Disaster Relief Information.
- Complete the taxpayer/spouse indicator box. Enter T for taxpayer or S for Spouse.
- If the distribution is unrelated to COVID enter the FEMA number. If the distribution is related to COVID place an X in the COVID Indicator Box.
- Enter the number that corresponds to the type of retirement account the customer withdrew from in the TYPE box.
- Pensions: Enter 1
- IRA's Other Than Roth IRA's: Enter 2
- ROTH IRA's: Enter 3
- Enter the Designated Disaster Distribution. This is the full amount of the distribution from the year the taxpayer first received the distribution payment.
- Enter the Qualified Disaster Distribution. This is the qualified amount of the distribution from the year the taxpayer first received the distribution payment.
- Enter the Taxable amount before repayment. For COVID withdrawals this is 1/3 of the original withdrawal amount.
- Enter any Repayment made of the original distribution amount. This is only if they had repaid some of the money they had withdrawn.
- After completing this worksheet the 2021 repayment amount will be displayed on Form 8915-F Part II Line 15 (accounts other than IRA's) or Part III Line 26 (IRA's)