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How to enter basis on 8606 - TurboTax incorrectly showing non-qualified Roth IRA distribution as taxable
I took a non-qualified Roth IRA distribution in 2023. I am younger than 59; however, the distribution was equal to the Roth IRA contributions I made in 2015-2017 (i.e. greater than 5 years ago) without any earnings. Therefore, my basis equals the amount of the distribution and there should be no taxable portion.
TurboTax, however, is showing the distribution as taxable and including the 10% penalty. How can I add the basis to line 22 of Form 8606 in order for TurboTax to reflect the distribution as non-taxable?
‎January 11, 2024
2:18 PM