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For clients that deferred tax on covid-related retirement plan distributions (up to $100k) in 2020, assuming no repayment, how will Proseries carry forward the next one-third ($33,333) of the distribution from 2020 8915-E to 2021?
As I write this, Proseries has no 8915-E or 8915-F. Will it be added soon? Curious what the procedure will be? Do we have to input on the 1099-R screen?
Thank you.
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I would imagine it will transfer from 2020 to 8915F and then to 1040. The problem we have is Intuit is not releasing or finalizing the form until 03/17....but everything everyone has said so far is IRS has not finalized the form.
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The IRS hasn't finalized the form yet so it is going to be awhile before we see it.
Slava Ukraini!
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3/17, yikes! Thanks for posting!
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3/17 is going to be a big day. That is also the day that the 2210 is being rolled out. Due to all of the complicated changes that the IRS made on that form, Intuit is taking their time to make sure that they get pretty close to correct before they release it.
Slava Ukraini!
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get pretty close to correct before they release it.
Bwahahaha!!!
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Looks like we are going to have to start holding Serious Saturday classes. We will get those set for Whacko Wednesday at 7:00 pm.
Slava Ukraini!
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Will munchies & cocktails be provided? 🍲🥘😋 / 🍹🍷🍸
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Of course. Dress up like your favorite troll to make the evening complete
Slava Ukraini!
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Im very serious in that it was funny! Does that work? 😄
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Works for me, but as you know, I'm always very, very serious, no matter what day it is.
Slava Ukraini!
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I sooooooooo want to laugh at that statement......but I'll be serious for once.
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Remember the most important issue about 3/17Happy St. Patricks day.
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Im very serious in that it was funny! Does that work?
OK... I'll give you that one 😉
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Maybe that's why Intuit chose that day. Everybody is going to turn green when they turn on (automatically update) their system only to find that the new 2210 causes their system to shutdown.
Slava Ukraini!
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☘️ 🍺
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"Curious what the procedure will be? Do we have to input on the 1099-R screen?"
Maybe, in the worksheet. The IRS, as of right now, is not releasing Form 8915-F as an efile form for tax year 2021; it will be as pdf for efile. That can still be generated by tax programs (auto-generated) or attached with info gathered from a worksheet.
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