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Get your taxes done using TurboTax
Thank you for your response. I did enter the 1099-R manually and the IRA/SEP/SIMPLE box is checked. When answering questions about having nondeductible IRA contributions, I also checked yes. Then a drop down box appeared stating:
If [name] kept records of nondeductible contributions, you can determine how much of the $xx,xxx distribution is taxable. Show Me How to Do This. **
Once you know how much is taxable, enter the amount below.
Calculated Taxable Amount [box to enter amount]
** The Show Me How to Do This is a link to Tax Help that states a 8606 is needed to calculate the taxable portion of the distribution. [Normally the software automatically starts a Form 8606 at this point]
If I leave the "Calculated Taxable Amount box blank, it removes it from the 1099-R box 2a (which then shows an error on that 1099) [the software should not be asking me to calculate the taxable amount manually]
I have attached a screenshot of the page in TurboTax regarding Nondeductible IRA Calculations.
I have been doing taxes on TurboTax for years with Traditional IRAs having nondeductible IRA contributions and I have never encountered this. It seems to be a software glitch. I appreciate any assistance you can provide.
Thank you!