rbynaker
Level 13

While you wait for the actual data from the client (and the form programming from Intuit) you should spend some time in the weeds with the form f8915f.pdf and instructions i8915f.pdf .  Part II is for non-IRAs, Part III is for IRAs.  With 3 1099-Rs you may have a mix of things.  In general, repayments are going to reduce the 2021 portion (33.3%) of the spread-out income.  So if your client has paid back < 1/3 of what came out then it all gets reconciled in 2021.  If it's more than that, then I think you can choose to either carry the repayment forward and reduce the 2022 taxable income or amend 2020 and carry it back.  If it's more than 2/3 then you'll do both.

Are we having fun yet?

Rick

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