Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- COVID 19 DISTRIBUTION DEFERALS
COVID 19 DISTRIBUTION DEFERALS
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
jknecht
Level 3
04-04-2022
05:02 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hello Friends...
Just got a call from a son of a deceased taxpayer. The taxpayer took a disbursement in 2020 under the COVID rules for 100K. Taxpayer died in December. So I have some questions...and I can't see anything out there in the IRS world..
(1) Has anyone come across tihs?
(2) Can the Family pay it back (+ 2022's) amount so that they don't have any tax at all on it.?
(3) Could the Family legally go back and payback 2020 as well?
(4) Do we file 2021 as a deceased taxpayer and hope it goes away 🙂
Please share thoughts as how to handle best.
Labels
2 Comments 2
qbteachmt
Level 15
04-04-2022
07:24 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
"so that they don't have any tax at all on it.?"
Well, it's taxed at some point, no matter what. Hope what goes away?
"and I can't see anything out there in the IRS world"
The IRS has instructions on what to do when a person dies. Did you read the instructions for Form 8915-F?
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
