I transferred a client that will be reporting 1/3 of her 2020 distribution. Does the amount that is taxable in 2021 automatically transfer to the 2021 tax return?
I just noticed the same for some of my clients, I was really hoping this was going to roll over in the software. I just completed the return and all the updates are in my software. Id love to know if they are going to fix this!
The IRS only issued the Final form within the last week.
I find it crazy to think ProSeries should have had the form ready by now. Especially for a form which will be used on only a very small minority of actual tax returns filed.
But they could have had a draft out there like other software companies. It would have shaved off a few of the posts that have shown up here. I’m just glad I don’t have any clients that need the form. But I do have clients that will need forms 2210 and 7203 so they do have more work to get done before they can take a break and pat themselves on the back for getting things done.
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