Question

Form 1116 needs Form 4972 data - where is 4972?

Forum|Forum|1 year ago
March 9, 2025
1 reply
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When reviewing my tax return before filing, it says "Form 1116 (COPY1): Line B lump-sum distribution amount must be entered on smart worksheet". This line says to enter the sum of the amounts from Form 4972...". Where is that form? How can I find this in Turbotax? I am blocked from filing until I fill out this field.

TurboTax Deluxe Online

J

JamesG1

Has IRS form 4972 been included in your tax return? If so, you may have to print or view the tax return.

You may print or view your full tax returns prior to filing after you have paid for the software.

View the entries down the left side of the screen at Tax Tools.
Select Print Center.
Select Print, save or preview this year's return.

IRS form 4972 is used to compute the tax on a qualified lump-sum distribution.

What Is a Qualified Lump-Sum Distribution?

It is the distribution or payment in 1 tax year of a plan participant’s entire balance from all of an employer’s qualified plans of one kind (for example, pension, profit-sharing, or stock bonus plans) in which the participant had funds. The participant’s entire balance doesn’t include deductible voluntary employee contributions or certain forfeited amounts. The participant must have been born before January 2, 1936.

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