- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Has there been any guidance or direction of how to report the 3 year spread of the 2020 retirement plan distributions that qualified for COVID relief? Is the 2021 ProSeries program going to automatically include the amount?
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You need to report it on 8915-F.
ProSeries does not even have the draft form yet (despite the draft form being available from the IRS for over 4 months), so it definitely won't do anything now. I suspect you might need to do all carryovers manually, but until ProSeries actually adds that form, we won't know for sure.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Add that to the group of ticked off tax preparers because the Developers think that tax season starts in March.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Case in point as to customer needs:
The good news, the 3/17 federal release date won't be as big of an issue for NC preparers since they can't start until the end of February anyway 😯
Slava Ukraini!