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Has there been any guidance or direction of how to report the 3 year spread of the 2020 retirement plan distributions that qualified for COVID relief? Is the 2021 ProSeries program going to automatically include the amount?
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You need to report it on 8915-F.
ProSeries does not even have the draft form yet (despite the draft form being available from the IRS for over 4 months), so it definitely won't do anything now. I suspect you might need to do all carryovers manually, but until ProSeries actually adds that form, we won't know for sure.
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And someone posted today that the info they got from support was the form wasn't going to be ready until 3/17.
Slava Ukraini!
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Thank you!
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If 3/17 is correct that is going to tick off a bunch of clients having to wait that long to file.
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Add that to the group that is going to be ticked off because the 2210 is currently set for the same date.
Slava Ukraini!
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Add that to the group of ticked off tax preparers because the Developers think that tax season starts in March.
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Did you ever get the feeling that Intuit is really out of touch with its customer needs? 🤔
Slava Ukraini!
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Case in point as to customer needs:
The good news, the 3/17 federal release date won't be as big of an issue for NC preparers since they can't start until the end of February anyway 😯
Slava Ukraini!
