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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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- I have a client with a form 8915-F included in his return that also has a current year distribution. After completing the 8915 F the current year distribution is not calculating as taxable. How do I...
I have a client with a form 8915-F included in his return that also has a current year distribution. After completing the 8915 F the current year distribution is not calculating as taxable. How do I fix thes?
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d371
Level 1
03-25-2022
11:18 AM
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Current year 1099R is not generating taxable income. Only the repayment for the 2020 distribution is calculating on the 1040.
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Just-Lisa-Now-
Level 15
03-25-2022
11:37 AM
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I freaked out about this yesterday, but it was an error on my part.
Make sure youre not putting the 2020 Covid distribution in on the 8915E as a 2021 distribution....you only want to put the total at the top in the Smart Worksheet, then scroll down to either Line 12 (non IRA) or 26 (IRA) to input the 1/3 amount of payment, that should transfer the amount to the 8915F and make your taxable lines on the 1040 correct
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
