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You will leave lines 1a through 1d blank, and enter $20,000 on line 1e of your Form 8915-F. The former president kept denying it, then blamed China. I became disabled in April 2020. See If completing both Part I and Part IV or filing more than one Form 8915 below. In many cases, a hardship distribution from a 401(k) plan or a tax-sheltered annuity contract will not have any cost. Mark is Jackson Hewitts national spokesperson and liaison to the Internal Revenue Service and other government authorities. It is also know as a federally declared major disaster. On April 14, 2022, you made a contribution that qualifies as a repayment of the distribution. On the dotted line to the left of line 7, you will write "$10,000 qualified distribution for Part IV, line 28". On line 1b, you enter $10,000. See Eligible retirement plan, later, for the list of plans from which qualified disaster distributions can be made. If you are repaying qualified 2020 disaster distributions made in 2020 or in 2021, complete lines 14 and 25, as applicable, of your 2023 Form 8915-F (2020 disasters). COVID-19 has not been declared a federally designated natural disaster, that expert writes. You may be able to designate a qualified distribution for a disaster as a qualified disaster distribution if all of the following apply. We may not fully support the browser or device software you are using ! We need this information to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax. On November 6, 2023, you make a repayment of $45,000. See Filled-in Worksheet 1B for Example 2. See Repayment of a Qualified Distribution for the Purchase or Construction of a Main Home in Qualified Disaster Areas, earlier. See Filled-in Worksheet 1B for Example 2. If you are repaying those distributions, complete lines 14 and 25, as applicable, of your 2022 Form 8915-F. See. Don't include any distributions you designated as qualified disaster distributions reported on line 8 or line 20 of your Form 8915-F. Also, don't include any amounts reported on this years Form 8606. Disaster Do not include on that Form 8915-F any repayments you made later than the due date (including extensions) for filing that return. For the latest updates, check the, IRS is providing a variety of tax relief for those affected by Hurricane Michael. The virus SARS-CoV-2 or coronavirus disease 2019 (referred to collectively in these instructions as coronavirus) is one of the qualified 2020 disasters reportable on Form 8915-E. https://www.irs.gov/pub/irs-pdf/i8915e.pdf listed source from above, You do not need to list Covid-19 on your tax return. The JN Contemporary court had no qualms concluding that [i]t cannot be seriously disputed that the COVID-19 pandemic is a natural disaster. In order to do so, the court first turned to the definitions of natural and disaster from Blacks Law Dictionary and the Oxford English Dictionary. In column (b), lines 2 through 5, of your 2022 Form 8915-F (2021 disasters), you enter the amounts from lines 2 through 5 of your filled-in Worksheet 1B, column (b). You received a coronavirus-related distribution in the amount of $9,000 on November 19, 2020. Ok. Yea because my turbotax added that unemployment income so my refund was huge compared to going in to a shop I went too. See Pub. Otherwise, enter the sum of lines 1c and 1d on line 1e. Earlier, in January of 2022, qualified disaster distributions were made to you totalling $10,000 that you report on a 2022 Form 8915-F (2021 disasters). On your Form 1040-X, you enter "2020" on the line for the calendar year at the top of page 1 because you are a calendar year filer and, in parentheses in column B of line 1, you enter the amount of the repayment. Where do I enter my estimated tax payments? To learn more on claiming an exemption to the 10% additional tax, please review our article on the 10% Early Withdrawal Penalty Exception .