matt1
Level 1

I have a TP in MA who took a Covid IRA distribution.

  1. The Federal form correctly reports the income as 1/3rd.
  2. The MA form reports it as 100% inclusion.
  3. The MA guidance is that it should match the Federal.

When I amend 2020 to repay the distribution, I would amend to remove 1/3rd of the IRA for Federal. If I do that, then 2/3rds of MA will remain in the return for 2020.

If I amend to remove 100% of the distribution from Fed/MA then that is incorrect.

I need the MA distribution in 2020 to be 1/3rd. If I just 'override it' then it wouldn't be correct, and I'd have to 'override' 2021 and possibly 2022, neither of which would have the Covid IRA distribution exclusion for penalty interest.

Questions:


1. Am I taking crazy pills in thinking that MA should be on 1/3rd and PTO just hasn't recognized this yet?

2. Am I just entering the distribution for MA incorrectly?

3. If not, where can I see a list of dates when PTO will be updated to report this correctly?


 

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