@168kenn wrote:
That impacts my 2020 RMD.
Yes it does. A common error is not to enter the 2019 year end value which will improperly apply ALL of the non-deductible basis to the current distribution rather just only a part of it. That will leave no basis to apply to future years and will eventually lead to a IRS audit and a large tax bill.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
