Instructions for IRS Form 8915A Qualified 2016 Disaster Retirement Plan Distributions and Repayments

IRS Form 8915A Qualified 2016 Disaster Retirement Plan Distributions and Repayments

This document contains official instructions for IRS Form 8915A , Qualified 2016 Disaster Retirement Plan Distributions and Repayments - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 8915A is available for download through this link.

FAQ

Q: What is IRS Form 8915A?
A: IRS Form 8915A is used to report qualified disaster distributions and repayments made from retirement plans.

Q: What are qualified disaster distributions?
A: Qualified disaster distributions are early withdrawals made from a retirement plan due to a federally declared disaster in 2016.

Q: Who is eligible to use Form 8915A?
A: Taxpayers who received qualified disaster distributions from a retirement plan in 2016 and need to report them on their tax return.

Q: What is the purpose of Form 8915A?
A: The purpose of Form 8915A is to calculate the taxable portion of qualified disaster distributions and determine if any repayments were made.

Q: How do I report qualified disaster distributions on Form 8915A?
A: Qualified disaster distributions should be reported on Line 3 of Form 8915A.

Q: How do I calculate the taxable portion of qualified disaster distributions?
A: The taxable portion of qualified disaster distributions is calculated using the special tax computation method provided in the instructions for Form 8915A.

Q: How do I report repayments on Form 8915A?
A: Repayments of qualified disaster distributions should be reported on Line 8 of Form 8915A.

Q: Can I claim a tax credit for qualified disaster distributions?
A: No, qualified disaster distributions are not eligible for the retirement savings contributions credit.