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?
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.
Add that to the group of ticked off tax preparers because the Developers think that tax season starts in March.
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 😯
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