CORONAVIRUS RELATED DISTRIBUTION- 3 YEAR SPREAD OF INCOME

[JOHNNYCPA1]

If you spread the distribution over 3 years, does proseries keep track of the  distribution income due for year 2 and year 3?

thanks,

John

[Just-Lisa-Now-]

One would hope so, but time will tell.   This will be something we need to watch for with new clients the next few years, we've got to see a copy of the 2020 return, no matter how simple they tell us it was.

[BobKamman]

If IRS wanted to provide top-quality service and promote voluntary compliance, they would send notices to taxpayers reminding them of the amount.  

So, yeah, probably won't happen.  

[JOHNNYCPA1]

where do I enter notes or reminders in a cell/amount ?  I am alittle familiar but I want to set up a reminder in the return for the corona distribution 3 year income? can you print notes as part of a return.  Are there pop ups on notes.  I want the notes to carry to next year return. I use proseries basic?

[rbynaker]

As a test, go back into the 2019 software and create a dummy client with a disaster distribution on 8915-D.  Then roll the client forward to 2020 and see what entries are there.

I would guess that if ProSeries can rollover the data for the prior series of 8915 forms, they will continue to do so for the -E series.

[dkh]

Hey @JOHNNYCPA1    I don't use Basic but am guessing you have Client Status form same as Professional.    At the bottom of this form is area for Permanent Comments.  This information transfers to the next tax year.   You could utilize the Permanent Comments to track the 8915-E 3year income

[JOHNNYCPA1]

anyone know where the client status form in basic?