Hi, just to confirm then to ensure TT computes my taxes accurately.
- in 2022 I have not entered any contributions to either a traditional IRA, Roth IRA or since not working (68 years old) any other retirement plan contribution.
- I am only taking a distribution of $6500 from a previous non-deductable contribution of $6500 that I submitted an 8606 form in a prior year.
- It seems from the posts above that in my situation I do NOT have to enter in the value of my traditional IRA balance. Since if I do enter the value of my traditional IRA balance then TT increases the Federal Tax Owed amount. TT doesn't seem to handle situations like mine correctly and implies I need to enter this value in the workflow of the program.
Do I understand this correctly?
