Problems with e-filing with H&RBlock re 1099Rs&/Form 4972
Form 4972 has to do with Lump Sum Distributions and it appears that when one has a total distribution that the program starts a Lump Sum Distribution file as there are 7 copies of that Form and much of it is blank although the programs says something about having a zero someplace on the form so when I try to e-file the program won’t clear it out in order to e-file. I have tried all kinds of was to clear Copy 2 of that form but all to no avail.
So now I guess I will have to file an extension as I have little time to get it completed on time. Fortunately I do have a refund coming rather than having to pay. If I had to pay of course I would not e-file anyway.
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Permalink Submitted by Alan Spross on Thu, 2012-04-12 18:04
I thought that having rolled over part of the distribution to an IRA eliminated use of Form 4972. I don’t think you can use any of the options on that form and if so it should not be filed at all.
Permalink Submitted by Shirley Hall on Thu, 2012-04-12 23:21
Yeah, tell me about it. It appears that there is a glitch in the program that creates an error in H&R Block and I can’t seem to correct it. The error message says “The “Self” copy of Form 4972 has a zero Bottom Line. (Whatever that means) Please remove this form from your return before filing electronically. Also change Form 1099-R to not indicate “lump Sum Distribution” and I cannot do either. They don’t even make it clear what they are evidently talking about.
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Permalink Submitted by Alan Spross on Thu, 2012-04-12 23:49
You should be able to do that, but all programs are not alike. Perhaps check the help menu or call customer assistance (probably long wait from now to 4/17).
Permalink Submitted by Alan Spross on Tue, 2012-04-17 23:21
While it is an extreme long shot, if the amount of the cash distribution that you would have rolled over to an IRA had you known that your partial IRA rollover disqualified your LSD for Form 4972 is large enough, it might be worth reviewing with a tax specialist to determine if you might get a letter ruling from the IRS extending the 60 days in order to allow you to rollover the balance and eliminate that tax bill.
If there was any error in the information you received (402f Notice) of your tax options from the plan administrator, that might also help your case. PLRs cost quite a bit, but rollover deadline PLRs carry a lower fee based on the amount of the desired rollover. Of course there are also considerable legal fees for the tax attorney to draft a letter ruling request.