4972 - Tax on Lump-Sum Distributions

What is the form used for? :

• Use this form to figure the tax on a qualified lump-sum distribution using the 20% capital gain election, the 10-year tax option, or both.

Is the form Supported in our program? Yes

How to access the form: To access the form, you will need to open a 1040/1041 return on the desktop and then go to Add Form/Display and type 4972.

Limits to the form: The 1041 variant of this form can only be accessed from the desktop software. This form cannot be copied.

Solution Articles: 
Entering capital gain distributions
Sch D (1040) - Capital Gains and Losses

IRS Publication: https://www.irs.gov/forms-pubs/about-form-4972