Question

Covid-19 Qualified Disaster Distribution Over Three Years Question

Forum|Forum|4 years ago
March 8, 2022
1 reply
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I have a client who got a $17000 qualified Covid-19 distribution in 2020 and elected to spread this income over three years ($5667 every year). Her AGI for 2021 is only $5667, which is the deferred 1/3 of her 2020 distribution. Is she required to file at all? Thank you.

Not A Product Question

M

MinhT1

She will need to file a tax return to report the second portion of the Covid-related distribution even if she does not have other income as form 8915-F has to be filed.

She will report the second taxable portion of her 2020 coronavirus distribution in the Retirement section under Wages and Income of TurboTax.

However, form 8915-F will only be available around March 31, 2022 and she'll need to revisit this section later.

Please see this TurboTax Help topic on IRS forms availability dates.

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