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IRA distribution incorrectly showing as other income on Tax Summary Report

mappp
Level 4

I use the Tax Summary Report in ProSeries for every client.  This year IRA distributions are being shown under "Other Income" on the Summary Report instead of on the Pensions and Annuities line.  On the TY 2020 form it was correctly reported on the Pensions line.  Can someone tell me how to report this bug?

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8 Comments 8
Camp1040
Level 10

I have notice that but just figured, the IRA is not a pension or annuity and for some reason Inuit did not want to add an IRA line to the summary. 

IRonMaN
Level 15

To be honest, folks are lined up around the block for forms 7203 and 8915F and a few other forms.  As long as the return itself works, I personally wouldn't care if it was shown as lemonade stand sales.  Sometimes you have to triage your problems and since nobody is going to die from that one I would move on and not worry about it. 


Slava Ukraini!
mappp
Level 4

I agree that an IRA distribution is not a pension, however, it is retirement income.  It makes more sense to leave it where it has always been on the Summary Report as part of pension income than to move it to the line that reports miscellaneous income.  If you zoom on the entry, you will not see the IRA.  

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mappp
Level 4

Hoping that IRonMaN will let me know when it is ok to ask about anything other than Forms 7203 and 8915F.  

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mappp
Level 4

By the way, Bloomberg's Tax & Accounting's SuperForm program has both form 7203 and 8915F available as fill-in forms that can be attached as PDF's.  I've already e-filed 7203 as PDF's.

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rcooley25
Level 11

Nobody as about 8915F more than I do.

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rcooley25
Level 11

Well put. Sometimes I think we make much to do about nothing.

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mappp
Level 4

RCooley, sorry I won't be able to see your fireworks.  I'm way UP here on the shores of Lake Superior in the UP of MI and I don't think the fireworks will get across the Mighty Mac!

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