dmertz
Level 15

Retirement tax questions

Because basis applies to a particular participant's IRAs in aggregate, IRA custodians have no way to know if there is basis associated with any particular distribution; it's impossible to put any IRA basis information on a Form 1099-R.  That's why for any regular distribution from any IRA box 2b Taxable amount determined is required to be marked on the Form 1099-R.