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CAPCPA
Level 2
March 4, 2021
Solved

Cares Act IRA Distribution - 3 year spread of taxes

  • March 4, 2021
  • 3 replies
  • 7 views

Cares Act indicated distributions from retirement accounts could waive the 10% penalty and distributions taxation could be spread over 3 years (or repaid in 3 years).  How do you effect the 3 year spread in ProSeries?  I've looked throughout the 1099-R entry worksheets and can not find this selection/option. 

 

This topic has been closed for replies.
Best answer by Just-Lisa-Now-

The 1099R worksheet should have a disaster section to choose Covid and then the 8915E will populate

 

3 replies

IRonMaN
Level 15
March 4, 2021

8915E

Slava Ukraini!
Just-Lisa-Now-
Intuit Community Champion
March 4, 2021

The 1099R worksheet should have a disaster section to choose Covid and then the 8915E will populate

 

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
CAPCPA
CAPCPAAuthor
Level 2
March 4, 2021

Thank you.  I had checked the box for ROTH conversion which had blocked the disaster designation (created an error message when both are checked).  Headed the right direction now.