I was going through some old financial papers and found that I took out $7K during COVID under the CARES Act in 2020, but I don’t think I ever filed or reported the 1099-R from that year. I can’t find any record of it. What do I do now?
*It was from my 401k.
Did you file your 2020 taxes?
If yes, check to see if you included Form 8915-E with your return. Distributions related to COVID under the CARES Act were typically spread over 2020, 2021, and 2022 unless you chose to pay it all in 2020. Form 8915-E is what handles that.
If you don’t see Form 8915-E, take a look at Form 1040, lines 4a and 4b (IRA distributions).
If you’re unsure whether you filed a 2020 return, log in to your IRS account and check your tax transcripts: https://www.irs.gov/payments/online-account-for-individuals.
If you didn’t file or left out the 1099-R, you may need to file an amended return. How much other income you had that year will affect how you should proceed.
@Darin
I filed for 2020 through 2023, and everything seemed fine. But I don’t remember filling out Form 8915-E.
Devin said:
@Darin
I filed for 2020 through 2023, and everything seemed fine. But I don’t remember filling out Form 8915-E.
Check your 2020 tax return to be sure.
Devin said:
@Darin
I filed for 2020 through 2023, and everything seemed fine. But I don’t remember filling out Form 8915-E.
Check your 2020 tax return to be sure.
I see the return transcript, but no Form 8915-E.
Devin said:
@Darin
I filed for 2020 through 2023, and everything seemed fine. But I don’t remember filling out Form 8915-E.
Check your 2020 tax return to be sure.
Nope, nothing on lines 4a or 4b.
Darin said:
@Kim
What year does your 1099-R show? You’ll need to file an amended return for that year.
It’s from 2020. I can also see it on my IRS wage and income transcript for 2020.