Where is the SECTION 2302 CARES Act deferred payment entered on tax return?

Forum|Forum|4 years ago
December 7, 2021
3 replies
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ProSeries Professional

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dkh

Level 15

Are you asking how to pay the deferral for 2020 SE tax on the 2021 return ?

TrumpJAuthor

Level 3

no, it has been paid - where is that reflected on the 1040 as an offset to the deferred amounts?

Just-Lisa-Now-

Intuit Community Champion

I dont think it goes on the 1040 anywhere.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

T

TaxGuyBill

Level 15

It is a tax for 2020, and payments are due by December 31st. Why would it show up on a 2021 tax return that has payments due on April 15th (or later)?

dkh

Level 15

I didn't have any clients that deferred but I thought it was 50% 12/2021 and 50% 12/2022.

PATAX

Level 12

Didn't have any clients that utilize this either... Really what good is it?... Creates nothing but a future issue or work, in my opinion it should have never been offered..

TrumpJAuthor

Level 3

My thinking is that (1) you 'deferred' the tax on the tax year 2020 Form 1040 - (2) the IRS is sending notices that 50% (or more) must be paid by December 31, 2021, (3) to close the 'loop' you'll reflect that you deferred the tax - paid the tax - offset the tax. Ok, I'll stay tuned.

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