Hi! So my husband retired last year. He began taking a distribution from one IRA. He has another IRA (employer backed IRA if that matters) that he did NOT take a distribution from but he did make a nondeductible contribution to of $480. Since we did not take a contribution, we do not have a 1099 for this one of course. He has done this every year and has completed the correct forms. His basis is roughly $11,000. Neither of the IRAs are Roths. I have entered the first IRA mentioned per his 1099. Turbotax then asks me if we made and tracked any nondeductible contributions to any IRA. I indicated yes. It then asks for basis and I entered the $11,000 figure. After that, I am asked to enter the total value of ALL IRA accounts. Once I enter the value my tax due increases by almost $3000. I did notice that last year, the non-deductible contribution was entered under Personal>Deductions and Credits>retirement and investments rather than under Personal Income as it is having me do this year. So I tried that and the entry has no effect on my tax bill. However, there is a statement on the page where I entered it that says if you took a deduction from an IRA you should go back and make the entry under Personal Income which is where I feel I am being double-taxed. I have such limited knowledge of all this…Am I entering this wrong? Thanks in advance for any help anyone can give!
