No, that deduction is no longer available. The Tax Cut and Jobs Act of 2017 eliminated the deduction for a fully distributed Roth account.
The one thing you can do to minimize your tax is to enter your Roth basis in TurboTax. This is how to do that:
- Select Federal from the left side menu.
- Select Deductions and Credits toward the upper left.
- Expand the list and scroll down to Retirement and Investments.
- Expand the section and click Start to the right of Traditional and Roth IRA Contributions.
- Check the type of IRA accounts you have and then answer the questions about contributions.
- When you get to Let Us Track Your Roth IRA Basis, answer Yes.
- Answer the remaining questions in this section to report your IRA basis.
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