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Get your taxes done using TurboTax
Thanks...
The 8606, Line 6 values as of 12/31/23 were as follows:
Custodian-1 (with the non-deductible contributions) = 82% of the total.
Custodian-2 (without the non-deductible contributions) = 18% of the total.
In TTax, I applied 82% of the value of 8606, Line 12 to Custodian-1 and 18% of the value to Custodian-2.
As you stated, the amounts on 1040, IRA distributions and the Taxable amount were the same the way I did it.
I kind of like the way I did it as it makes it easier to understand.
Do you see a "nasty gram" from the IRS if I do the way I did it?
Thanks for sticking with me on this. I never expected it to be so complicated.
‎February 20, 2024
12:39 PM