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Level 2
February 15, 2022
Question

2020 Deferred Covid for 1099-R

  • February 15, 2022
  • 4 replies
  • 0 views

Does anyone know if Pro Series will update the 1099-R worksheet to reflect the deferred retirement carryover?  I am not sure how to handle.

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4 replies

Intuit Community Champion
February 15, 2022

Welcome to the club. We all await Intuits handling of this form. Some state 03/17 while others state 03/31 is when the form will be ready. 

Intuit is kind of quiet on this so we are left wondering. 

Level 7
February 16, 2022

I think ProSeries has a default date for all unfinished forms - said date is March 31. Lots of luck to everyone the last 2 weeks of tax season.

I was going to attached the 7203 and do it manually but there are too many calcs and I'm too lazy to attempt it. Take that back - I'm drinking out of a firehouse for the next 10 weeks and have no time to learn it.

PATAX
Level 12
February 16, 2022

Is this a joke or a bad dream?

Level 10
February 15, 2022
  • The form you are waiting for is 8915-F
  • We do not know whether amounts will carry over from 2020, in fact the consensus is probably not.
  • Non of us really know when the form will be active.
PATAX
Level 12
February 15, 2022

I would wait a little bit for returns that this applies to, and move on to something else. Hopefully everything will be updated soon . Not much we can do but wait and maybe complain.... . This is just my opinion so you can do what you want to.

Level 7
February 16, 2022

Since the Form 8915-F is already final, why not just fill it out and attach it to the return?

https://www.irs.gov/pub/irs-pdf/f8915f.pdf

 

PATAX
Level 12
February 16, 2022

In my opinion we should not have to do that.

IRonMaN
Level 15
February 16, 2022

If Intuit had a search function that actually worked you could find the official Intuit post that stated the form will be ready on 3/31 and it will not carryover the prior year info.  Sometimes those anvils can cause problems for me but every once in awhile something gets seared into my brain and that post was one of those things that got firmly locked into memory.  Not to say that those facts won't change, but those are the current facts as of star date 2/15/22.

Slava Ukraini!
PATAX
Level 12
February 16, 2022

March 31st is almost the end of tax season unless IRS extends it again, which I doubt.  I start filing my extensions in early April, if clients can't bring the s*** in on time  then I'm not staying up late on April 15th,  if I have to do that s*** then I'll go to law school and become an attorney like I wanted too. This s*** is starting to piss me off.. 

IRonMaN
Level 15
February 16, 2022

"then I'll go to law school and become an attorney like I wanted too"

That's a tough job.  Chasing after all of those ambulances gets you tired out and is hard on the knees.

Slava Ukraini!