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Get your taxes done using TurboTax
Thanks for taking time to answer.
I am unable to connect your response in how I fill out the TurboTax form i.e. enter the right values in the two boxes (Earnings & Basis) presented by TurboTax.
For example one what should one report as Basis for each of the years money is withdrawn for qualified expenses. Consider the following scenario. Parent puts 15 * 2000 = 30,000 into ESA. Money has grown to 100,000. Parent withdraws 25,000 for each of the 4 years. How will the parent report Basis for each of the years?
Could you elaborate on this aspect
Regards,
Ramesh
March 25, 2023
3:48 PM