Level 5

Question

How will 2020 deferred disaster-related retirement plan distributions be carried forward from 8915-E to 2021?

Forum|Forum|4 years ago
January 22, 2022
3 replies
11 views

For clients that deferred tax on covid-related retirement plan distributions (up to $100k) in 2020, assuming no repayment, how will Proseries carry forward the next one-third ($33,333) of the distribution from 2020 8915-E to 2021?

As I write this, Proseries has no 8915-E or 8915-F. Will it be added soon? Curious what the procedure will be? Do we have to input on the 1099-R screen?

Thank you.

ProSeries Professional

This topic has been closed for replies.

G

garman22

Intuit Community Champion

I would imagine it will transfer from 2020 to 8915F and then to 1040. The problem we have is Intuit is not releasing or finalizing the form until 03/17....but everything everyone has said so far is IRS has not finalized the form.

C

curt1Author

Level 5

3/17, yikes! Thanks for posting!

G

garman22

Intuit Community Champion

@curt1 wrote:

3/17, yikes! Thanks for posting!

my thoughts too!!!

IRonMaN

Level 15

The IRS hasn't finalized the form yet so it is going to be awhile before we see it.

Slava Ukraini!

Camp1040

Level 10

Remember the most important issue about 3/17Happy St. Patricks day.

IRonMaN

Level 15

Maybe that's why Intuit chose that day. Everybody is going to turn green when they turn on (automatically update) their system only to find that the new 2210 causes their system to shutdown.

Slava Ukraini!

qbteachmt

Level 15

"Curious what the procedure will be? Do we have to input on the 1099-R screen?"

Maybe, in the worksheet. The IRS, as of right now, is not releasing Form 8915-F as an efile form for tax year 2021; it will be as pdf for efile. That can still be generated by tax programs (auto-generated) or attached with info gathered from a worksheet.

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