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New Schedule R - skip line 3, or not (for a profit-sharing plan)?


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Posted

Is this a mistake on the form? For a Profit Sharing plan you need to indicate the payor ID# in box 2. Right under box two it says skip line 3. But the instructions seem to indicate you DO fill in the number paid?

Are you putting in the number on line 3 or leaving it blank. THANKS!

  • 2 weeks later...
Posted

For profit sharing plans, we will follow instruction on the form and skip line 3 even though the Schedule R instructions do not specifically indicate that this item should be skipped. Hopefully the edit checks on the software will clarify.

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