1,3 2020 covid distribution

Forum|Forum|4 years ago
February 6, 2022
3 replies
8 views

I transferred a client that will be reporting 1/3 of her 2020 distribution. Does the amount that is taxable in 2021 automatically transfer to the 2021 tax return?

ProSeries Professional

This topic has been closed for replies.

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Dana 12

Level 2

I just noticed the same for some of my clients, I was really hoping this was going to roll over in the software. I just completed the return and all the updates are in my software. Id love to know if they are going to fix this!

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jeffmcpa2010

Level 10

The 8915-F is not ready yet in any case.

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Dana 12

Level 2

Thanks, I just did further reearch and saw that. Thanks for letting me know! I appreciate it! Dana

IRonMaN

Level 15

7,000,001

Slava Ukraini!

E

Ephesians3-14

Level 7

ProSeries should have had the 8915 ready to go a lot sooner. For goodness sake, we knew 1/3rd would be reported for 2022 and 2023 as well.

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jeffmcpa2010

Level 10

The IRS only issued the Final form within the last week.

I find it crazy to think ProSeries should have had the form ready by now. Especially for a form which will be used on only a very small minority of actual tax returns filed.

IRonMaN

Level 15

But they could have had a draft out there like other software companies. It would have shaved off a few of the posts that have shown up here. I’m just glad I don’t have any clients that need the form. But I do have clients that will need forms 2210 and 7203 so they do have more work to get done before they can take a break and pat themselves on the back for getting things done.

Slava Ukraini!

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