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@carlosfhts wrote:

What are your thoughts on entering the carryover on the 1099-R worksheet as a normal distribution instead of making the taxpayer wait till mid March?

 

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Edit to clarify: I would wait for the 8915-F.

At this point I think the IRS is barely functional.  Things are running mostly on autopilot by the computers.  So anything I can do to make the computer happy will save time in the long run.  Even if you're reporting the correct amount of income and paying the correct amount of tax, it's not going to do your client any good if their return ends up in the "hold for review" queue.  Last numbers I saw, the IRS still has over 6 million unprocessed returns and they're only up to April 2021 in processing them.

On the bright side, if the client doesn't need the money they will get a great interest rate on their IRS refund once it's processed in 10-12 months.  So as long as you're looking at it like an investment opportunity . . .