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Level 2
posted Feb 8, 2022 6:42:36 AM

Form 4972-T, Tax on Lump Sum Distributions

I will be filing a 4972-T as part of my 2021 return. TurboTax says the form will not be "Ready to File" until 03/31/2022! This is the only form within TurboTax Deluxe I am waiting on. Will I really have to wait until 03/31/2022? Please advise.

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1 Best answer
Expert Alumni
Feb 8, 2022 6:57:15 AM

Yes, unfortunately.

 

TurboTax, like other tax software providers, has to wait for the IRS to finalize the forms before testing them and making them available in their program.

3 Replies
Expert Alumni
Feb 8, 2022 6:57:15 AM

Yes, unfortunately.

 

TurboTax, like other tax software providers, has to wait for the IRS to finalize the forms before testing them and making them available in their program.

Level 15
Feb 8, 2022 7:00:30 AM

YES ... you really need to wait if a form you need is not functional ... it could be ready sooner so check the REVIEW tab from time to time and/or sign up for an email alert. 

 

But are you very sure you qualify to use that form since almost no one does any longer ... read the part 1 questions here :   

 

https://www.irs.gov/pub/irs-pdf/f4972.pdf

 

It would be most unlikely that you are 85 years old or older and just now taking the pension distribution. 

Level 2
Feb 8, 2022 8:24:09 AM

I am eligible as my Dad's beneficiary. He was 97 when he passed...