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Form 8915-F

  1. Country USA
  2. Language English
  3. Activity Taxes
  4. Department Internal Revenue Service
Form 8915-F

Qualified Disaster Retirement Plan Distributions and Repayments

Rev. January 2024

This text is the instruction part of Form 8915-F (Rev. 1-2024) for reporting qualified disaster distributions from IRAs or retirement plans. It explains how to calculate the taxable amount of these distributions in different scenarios.

Instructions

  • Form 8915-F Instructions - Instructions for Form 8915-F, Qualified Disaster Retirement Plan Distributions and Repayments
FAQ
  • What is the definition of a Qualified Distribution?

    A Qualified Distribution is a distribution from an IRA or other tax-advantaged account that meets certain requirements and is subject to income tax and an additional 10% early withdrawal penalty if taken before age 59—.

  • What is the deadline for repaying a Part IV Qualified Distribution?

    The deadline for repaying a Part IV Qualified Distribution depends on when the distribution was taken. For distributions taken in 2023, repayment must be made by January 31, 2025. For distributions taken in earlier years, the deadline may vary.

  • What are the exceptions to the 10% early withdrawal penalty for Qualified Distributions?

    There are several exceptions to the 10% early withdrawal penalty for Qualified Distributions, including distributions made after age 59—, disability, death, qualified reservist distributions, certain medical expenses, up to $10,000 in lifetime learning contributions, and up to $20,000 in qualified charitable distributions.

  • What is a Part IV Qualified Distribution?

    A Part IV Qualified Distribution is a distribution from an IRA or other tax-advantaged account that meets certain requirements and is subject to income tax and an additional 10% early withdrawal penalty if taken before age 59—, but it also allows for repayment of the distribution within a specified time period without the penalty being applied.

  • What are the rules for repaying a Part IV Qualified Distribution?

    To repay a Part IV Qualified Distribution, the account holder must repay the entire distribution amount before it becomes subject to income tax and the 10% early withdrawal penalty. The repayment must be made within 3 months and 15 days after the distribution date or by the end of the year in which the distribution was taken, whichever is later.

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ABOUT

Internal Revenue Service (IRS) Forms

Form 8915-F is one of the official tax forms used in the United States to report income, claim deductions and credits, calculate tax liability, and fulfill other tax-related obligations. The IRS is the federal agency responsible for administering and enforcing the internal revenue laws in the United States.

Here are some examples of Internal Revenue Service forms:

Form 1040: This is the primary individual income tax return form used by most taxpayers. It is used to report various types of income, claim deductions and credits, calculate tax liability, and determine whether a taxpayer owes additional tax or is entitled to a refund.

Form 1099: There are different variations of Form 1099, such as 1099-MISC, 1099-INT, 1099-DIV, etc. These forms are used to report income received by individuals or businesses from various sources other than employment, such as self-employment income, interest income, dividend income, and rental income.

Form W-2: This form is used by employers to report wages paid to employees and the taxes withheld from their pay. Employees use the information on Form W-2 to complete their individual tax returns.

Form 941: Employers use this form to report employment taxes, including federal income tax withheld, Social Security tax, and Medicare tax, for their employees.

Form 1065: This form is used by partnerships to report their income, deductions, and tax liability. Partnerships themselves do not pay income tax; instead, the partners report their share of partnership income on their individual tax returns.

Form 1120: This is the corporate income tax return form used by C corporations to report their income, deductions, and tax liability.

Form 990: This form is used by tax-exempt organizations, such as nonprofits and charities, to report their financial information, activities, and compliance with tax laws.

Form 8862: This form is used by taxpayers who previously claimed the Earned Income Tax Credit (EITC) but had it disallowed, and now want to claim it again.

These are just a few examples of the numerous IRS forms that exist to fulfill various tax-related obligations. The specific forms required for an individual or business depend on their unique circumstances, income sources, and deductions. It's advisable to consult the official website of the Internal Revenue Service (www.irs.gov) or seek professional tax advice to obtain accurate and up-to-date information regarding the specific IRS forms relevant to your tax situation.

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