Thanks for the information. I was hoping someone from the 2020 post would reply if those suggestions worked on splitting the LT vs ST gains on a single stock but the suggestions seem logical. What's unique in my case is how the NIIT is applied. As I read the guidelines the IRS does not apply the NIIT tax to NUA "In-Kind" distribution from a 401K stock fund so I'll need to see how Turbo Tax handles form 8960. It appeared the 1099-R broke out the stock value at time of distribution that was over and above the cost basis. The cost basis indeed was handled as ordinary income (discussed before). So it looks like that is correct. Do I get any ability to even see how Turbo Tax "Online version" filled in Form 8960 wrt NIIT - is that hidden from me?
Am I to understand that if want to see form 8960 and potentially edit it (over-ride it) that I need to use the Desktop Version then?
Thanks for the detailed reponse as this is a unique case I beleive. The "advisor" I spoke to in Q4 said he's only dealt with this once in 30 years.
To further drill into details,
, that the earlier example did not mention NIIT (3.8%) since funds from the distribution were not over 250K in the example. I agree that I would need to be sure form 8960 is handling the NIIT tax correctly and if I can't see that form, and make edits if it's incorrect, then it sounds like the desktop version provides me that option. Is my understanding here correct?
Thanks again for the help.
