- Solved: Did you take a disaster distribution. . . - Intuit
Correct, if you took advantage of the early withdrawal without penalties, allowed under Cares Act, and the tax is to be paid back over the three periods, you will mark yes to the qualified disaster distribution questions
- Instructions for Form 8915-F (12 2024) - Internal Revenue Service
You received a qualified 2021 disaster distribution in the amount of $21,000 in December 2022 You choose to spread the $21,000 over 3 years ($7,000 in income for 2022, 2023, and 2024) On November 6, 2024, you make a repayment of $10,000 For 2024, none of the qualified 2021 disaster distribution is included in income
- How Do I Know If I Took a Disaster Distribution?
To determine if a withdrawal qualifies as a disaster distribution, review Form 1099-R, which reports distributions from pensions, annuities, retirement plans, and IRAs In 2024, the IRS updated its coding system to reflect changes in disaster distribution reporting
- Withdrawals for Qualified Disaster Distributions - The Rand Group
You can withdraw up to $22,000 from your employer retirement plan or IRA if you are eligible to receive the benefits of a qualified disaster distribution Note that if you qualify, these distributions are permitted without regard to your need or actual amount of economic loss
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