I have clicked the option within the 1099-R Worksheet to designate the retirement distribution a "2020 Corona virus related distribution." It gives me an error saying "we have not had the time to update the program for recent tax legislation....." Any idea on when this update will be completed. Hopefully no later than next Friday!
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It is in the 1099-R worksheet. Scroll a quarter of the way down until you see the box area that says "Qualified Disaster Distribution Smart Worksheet." The 4th box down says 2020 Coronavirus related distribution.
The 8915-E is now available on IRS.gov
Is there a reason the Qualified Disaster Distribution Smart Worksheet still shows an error when I check the "2020 Coronavirus-related Distribution" box?
Will there be functionality available in ProSeries to spread the 1099-R distrubution over the three years, or will we have to do it manually?
I also read that when it is approved you won't be able to e-file it but will need to attach it as a pdf. I think that was at the irs draft site but not positive and don't have time to look right now. Anyone else know about that?