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spreading the corona related ira distribution over 3 years

gosencpa1
Level 2

I had a client who elected to spread the IRA over 3 years on the 2020 tax return.  Proseries doesn't know to report the the 1/3 in 2021?

6 Comments 6
skymax
Level 3

Following.  Same question.  You would think it would roll the taxable income due right into 2021 but it doesnt seem to be.

 

IRonMaN
Level 15

Form 8915F- but it ain't ready yet. And when it is ready, you will need to manually enter info from the 2020 return to make it work.


Slava Ukraini!
gosencpa1
Level 2

Thank you.  Do you think the program will know and prompt you to enter the information?

 

IRonMaN
Level 15

Since you have to enter it manually, I doubt it.


Slava Ukraini!
Sweath604
Level 1

Just where do we enter the 1/3 on the 8915-F. 

 

 

 

0 Cheers
gosencpa1
Level 2

8915-WKS  ,   check box b, and put the amount on line 2