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Get your taxes done using TurboTax
I have found an error in turbotax desktop 2024
after this screen
Enter prior year roth ira contributions
confirm: David net regular contributions prior to 2024 that remain in David's Roth IRA
Roth IRA contributions prior to 2024
i get a conversion and then an excess question....and then...because my contributions were less than the amount i removed <meaning i pulled out earnings>
next i go to the "Let's see if we can reduce your early withdraw penaly"
and i enter the entire amount of the 1099R as related to the disability
THE SYSTEM SHOULD NOT ONLY MAKE THIS PENALY FREE BUT ALSO TAX FREE. THATS EXPLICITY STATED IN THE IRS FORMS ...IF OPEN MORE THAN 5 YEARS AND PERMINANT DISABILITY TAX AND PENALTY FREE BUT YOUR SYSTEM IS CALCULATING TAX AND WAIVING THE PENALTY. WRONG.SEE IRS PUBLICATION WITH THE FLOW CHART.