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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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- How do I enter pro-rated 1099R from 2020 tax returns in 2021 Proseries
How do I enter pro-rated 1099R from 2020 tax returns in 2021 Proseries
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ariwood22
Level 1
03-09-2022
08:17 PM
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It doesn't appear that proseries is rolling over the 2020 1099r information that was entered as corona virus related distribution to the 2021 program.
The distribution should be reported ratably over a three-year period. For example, Covid related distribution in 2020 was $30K so $10K should be reported for tax year 2020, 2021, and 2022.
How's everyone entering the 2nd installment that should be taxable in the 2nd year?
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jeffmcpa2010
Level 11
03-09-2022
08:49 PM
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Be watching for a form 8915-F sometime in the future. That is the form you need.
ariwood22
Level 1
03-10-2022
07:55 AM
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Thank you! It sucks the program doesn't warn you that this form needs to be filed for taxpayers who elected to spread payment over 3 years.
