Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProConnect Tax
- :
- ProConnect Tax Discussions
- :
- Re: 1099 R Early Distribution year 2023
1099 R Early Distribution year 2023
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Evelyn3
Level 1
02-11-2024
08:32 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hello intuit Accountant Community , Please I had a question, A client received 20,000 Traditional IRA distribution year 2023 .
How to report this distribution in Pro Connect client wants to split the distribution half for 2023 and the other half for 2024.
Thank You in Advance
Evelyn Mercedes
3 Comments 3
qbteachmt
Level 15
02-12-2024
11:02 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Wow, where did your taxpayer get that idea? This is the only provision, in the past, and it was conversions, not distributions.
"However, under the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) these previously ineligible taxpayers will be eligible to participate starting this year (including married but separate filers). In fact, there is an incentive to take action in 2010: Everyone who converts this year may defer and spread income recognition from the conversion over tax years 2011 and 2012."
From: https://www.journalofaccountancy.com/issues/2010/jan/20091743.html
*******************************
"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
