Unlike Forms 8915-A through E that dealt with specific years, the IRS calls Form 8915-F a "forever" form to the extent that it will be used for disaster years 2020-2024. The expectation is that it may be appended in future years foregoing the need to establish a "new" Form 8915 each year. Since 8915-F is a multi-year form, the preparer needs to indicate the year for which the form is applicable
Form 8915-F is used to report the following:
- Qualified 2020 non-COVID disaster distributions made in 2021 or 2022, including the Washington state disaster designated 8593-DR-WA on January 1, 2021.
- Repayments of current and prior year qualified disaster distributions.
- The current year's income for both current and prior year disaster distributions spread over three years.
Completing Form 8915-F for a COVID-related distribution
Have a copy of the 2020 Form 8915-E available for reference. To include the current year's portion of a 2020 COVID distribution as well as any repayments, from the Federal Section of the tax return (Form 1040) select:
- Income
- Form 8915-F - For a MFJ return, indicate if the form is for the taxpayer or spouse.
- 2020 Form 8915-E, Line 9 or Line 17 is checked - Check this box if true.
- Coronavirus Related - Check this box.
- For both IRA and non-IRA disaster distributions you'll need to enter three amounts as appropriate:
- The amount of the disaster distribution
- The amount repaid in 2020, if any.
- The amount repaid in 2021, if any.