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Retirement tax questions
The code in box 7 is "T," and the IRA/SEP/SIMPLE box is NOT checked. I did see that the T code was probably causing a problem and I don't know why my broker used it so I will discuss this with them. However, I think the Turbotax questions following 1099-R entry should have resolved the problem.
On another note, I've been using Turbotax for many years while doing IRA/Roth contributions, rollovers, conversions, and distributions. Not once has this software generated a form 8606 so there is no way for me to go back now for the purpose of accurately determining the basis of my several accounts. In retrospect, I should have used a pro.
March 20, 2022
4:52 PM