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Get your taxes done using TurboTax
If your distribution from the Roth IRA exactly matches the cost basis in the account, then there is no tax consequence of the distribution.
The cost basis is the amount of after tax contributions that were made to the Roth IRA. When those after tax contributions are distributed, there is no income tax or early distribution penalty owed.
I'm not sure about the first part of your question. Can you please tell me more about where you are in the program seeing '4b drop down for cost basis distributions' if you still need help with that question.
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‎February 3, 2024
9:48 AM