401K withdraw under the pandemic provision calculation did know roll forward in ProSeries. Anyone know how to handle this?

[westax]

401K withdraw under the pandemic provision calculation did know roll forward in ProSeries. Anyone know how to handle this?

A client pulled 75K out of his 401k in Nov 2020. I filed the return and claimed the 33% as Cashed out under the Pandemic Provision. He has 2 more years of claiming the 33% but ProSeries did not roll the information over into 2021. I can't find any information how to handle this as the 1099R was for the entire amount and he had the 10% withheld in 2020. Any ideas would be appreciated. 

[jeffmcpa2010]

do a search for 8915-F

[westax]

8915 stops at E. Lol

E directed me to A.

This is where ProSeries dropped the ball. This should have been rolled forward. I was told both Drake and ATX does.

[jeffmcpa2010 · Accepted solution]

8915-F is not avaliable in Pro-Series yet. That is the form the IRS has designated to report these distributions in 2021.

[mojo]

Did you receive a definitive answer as to where to report this year's 1/3 share of the coronavirus distribution? I have the same situation and can not find where we are supposed to report this. Your help would be appreciated.

[jeffmcpa2010]

You will report it on the 8915-F when the form becomes available.

[westax]

Thank you Jeff

[mojo]

Thank you Jeff. Seems to be a touchy issue...

Mojo

[qbteachmt]

To clarify, the withholding is not part of 2021 or 2022. It was part of 2020 tax pre-payments to be applied to the total tax owed that year, the same as any withholding and estimated tax payments. There is no carry forward of withholding. There can be "let it ride" on the 2020 refund, of course 🙂 Then it would apply to 2021 taxes.