dmertz
Level 15

Get your taxes done using TurboTax

 

"the gross distribution value is also given as the taxable amount on line 2a, but the Taxable Amount Not Determined box is checked on line 2b."

 

This is 100% correct reporting by the bank.  The bank has no way to know your basis in nondeductible traditional IRA contributions, the IRS requires the bank to prepare the Form 1099-R this way.