Where is the SECTION 2302 CARES Act deferred payment entered on tax return?

[dkh]

Are you asking how to pay the deferral for 2020 SE tax on the 2021 return ?  

[TrumpJ]

no, it has been paid - where is that reflected on the 1040 as an offset to the deferred amounts?

[Just-Lisa-Now-]

I dont think it goes on the 1040 anywhere.

[dkh]

I haven't even looked at 2021 Form 1040 but I wouldn't think it would be on there....unless there will be some special schedule to reconcile amount deferred to amount paid.

[Just-Lisa-Now-]

Its a 2020 deferment thats between the taxpayer and the IRS outside of the tax return, I dont see how or where it would belong on the 2021 1040.

[dkh]

I'm just throwing out the possibility that IRS will have an option to apply 2021 refund to the deferred balance.   No different than First Time Homebuyer Credit repayment.

[Just-Lisa-Now-]

oh maybe, Line 13e of Sch 3 does have a Reserved for future use.

[TaxGuyBill]

It is a tax for 2020, and payments are due by December 31st.  Why would it show up on a 2021 tax return that has payments due on April 15th (or later)?

[dkh]

I didn't have any clients that deferred but I thought it was 50% 12/2021 and 50% 12/2022. 

[TrumpJ]

My thinking is that (1) you 'deferred' the tax on the tax year 2020 Form 1040 - (2) the IRS is sending notices that 50% (or more) must be paid by December 31, 2021, (3) to close the 'loop' you'll reflect that you deferred the tax - paid the tax - offset the tax.  Ok, I'll stay tuned.

[PATAX]

Didn't have any clients that utilize this either... Really what good is it?... Creates nothing but a future issue or work, in my opinion it should have never been offered..