2020 8915-E Distribution

[mtobiason]

Has there been any guidance or direction of how to report the 3 year spread of the 2020 retirement plan distributions that qualified for COVID relief?  Is the 2021 ProSeries program going to automatically include the amount?

[TaxGuyBill]

You need to report it on 8915-F. 

ProSeries does not even have the draft form yet (despite the draft form being available from the IRS for over 4 months), so it definitely won't do anything now.  I suspect you might need to do all carryovers manually, but until ProSeries actually adds that form, we won't know for sure.

[IRonMaN]

And someone posted today that the info they got from support was the form wasn't going to be ready until 3/17.

[mtobiason]

Thank you!

[mtobiason]

If 3/17 is correct that is going to tick off a bunch of clients having to wait that long to file.

[IRonMaN]

Add that to the group that is going to be ticked off because the 2210 is currently set for the same date.

[TaxGuyBill]

Add that to the group of ticked off tax preparers because the Developers think that tax season starts in March.

[IRonMaN]

Did you ever get the feeling that Intuit is really out of touch with its customer needs? 🤔

[IRonMaN]

Case in point as to customer needs:

https://proconnect.intuit.com/community/proseries-tax-news-updates/discussion/nc-individual-forms-wi...

The good news, the 3/17 federal release date won't be as big of an issue for NC preparers since they can't start until the end of February anyway 😯