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Get your taxes done using TurboTax
The after tax contribution amount was information for the administrator of the IRA. When you take the money out of the IRA you will have to pay taxes on all of the pre-tax distributions but not the after tax distributions. So the 1099-R that you receive somewhere down the road will show the total distribution in box 1 and the taxable distribution in box 2 will be a little less.
As far as the rollover that you have to enter for this year go ahead and enter that 1099 just as it is written. There are no taxes due on anything at this time.
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‎February 8, 2024
3:45 PM