1099-R distribution

Forum|Forum|5 years ago
January 31, 2021
2 replies
23 views

How do you input a 1099-R distribution to spread the income over the 3 years?

Lacerte Tax

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

You need the 8915E that hasnt been released yet. Im not sure when its scheduled for lacerte, it doesnt give a date. https://lfs.intuit.com/

ProSeries is scheduled for 2/18 so that should give you a rough idea

Just-Lisa-Now-

Answer

Intuit Community Champion

You need the 8915E that hasnt been released yet. Im not sure when its scheduled for lacerte, it doesnt give a date. https://lfs.intuit.com/

ProSeries is scheduled for 2/18 so that should give you a rough idea

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

B

BJOLLEYAuthor

Level 2

Thank you, Lisa

T

tagstrategy

Level 2

Any idea along this same line how to show the repayment of a client's RMD due to the provisions of the CARES Act? 1099R shows total distributed, not the amount repaid. Where do I enter that on Lacerte's screen 13?

qbteachmt

Level 15

"1099R shows total distributed, not the amount repaid."

Because the 1099-R is for money Out, and that is how much went Out; it's not their responsibility to Net it. What the taxpayer did with it is a different issue. There should be a 5498 to confirm they "put it back" which is a Rollover. It's just a Rollover. The Rollover treatment has been changed to allow for up to three years, as long as you are designating this is a qualified covid distribution.

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