Covid-19 benefit for 1099-R and Schedule C selfemployment tax

Forum|Forum|4 years ago
January 31, 2022
2 replies
21 views

In the ProSeries Professional program which form, or procedure is use to recover the tax benefits from 1099-R distribution in 2020 that are Covid-19 or disaster related. Also Schedule C self-employment tax

ProSeries Professional

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qbteachmt

Level 15

You are asking about Form 8915-F, which Intuit has listed as scheduled March 17. The IRS has not even released it, yet. That is the carry-over for covid disaster reportable taxable income from 2020, and for all disasters from now on.

As for Sched C, if the taxpayer deferred paying SE tax, that should be paid part in Dec 2021 and part in Dec 2022. There is no additional reporting of it; it's delayed Payment, not delayed reporting.

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qbteachmt

Level 15

I found this for you; it's the type of thing you get via email if you sign up for e-newsletters:

https://www.irs.gov/newsroom/how-self-employed-individuals-and-household-employers-repay-deferred-social-security-tax

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