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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Covid-19 benefit for 1099-R and Schedule C selfemployment tax
Covid-19 benefit for 1099-R and Schedule C selfemployment tax
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Marcus CPA
Level 2
01-31-2022
04:25 PM
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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
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qbteachmt
Level 15
01-31-2022
04:32 PM
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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
01-31-2022
04:34 PM
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I found this for you; it's the type of thing you get via email if you sign up for e-newsletters:
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
