- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Taxable IRA earnings during the year of contribution
Kimberly, nonworking spouse, made a $7000 nondeductible traditional IRA contribution in 2020 for 2019 and another $7000 for 2020 for a total of $14,000.
The 1099R shows ($14,023.64) gross distribution (all money was converted to a Roth IRA). $14,000 should be non taxable and $23.64 or rounded up to $24 earnings should be taxable yet Turbo tax is showing all as being non taxable. What do we need to do? What did we do incorrectly?
Topics:
‎April 24, 2021
11:58 AM