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Retirement tax questions
Your response that the box 3 nondividend distribution amount will not affect taxes seems confusing. When I look at the brokerage statements I received throughout the year, the total amount of distributions including nondividend distributions are all added together in the box 1 total. Therefore, since nondividend distributions are not taxable as ordinary income in the current year, it seems that Turbox needs to deduct the nondividend distribution amount from the total amount shown in box 1 for purposes of calculating income taxable in the current tax year. Can you explain why that is not happening or what needs to be done to get Turbotax to reduce the total amount shown in box 1 by the nondividend distribution amount shown in box 3?
March 21, 2022
9:39 PM