- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
I am using the 2023 desktop Deluxe version of Turbotax. Have read numerous threads related to reporting withdrawal of 2023 excess Roth IRA contributions. Guidance advises creating a 1099-R, entering the gross distribution in Box 1, entering the taxable amount (Net Income Attributable) in Box 2a, and entering code "P" in box 7 (code "J" is not applicable). When prompted about the year of the 1099-R, I select 2024.
I have done that, as well as, using other codes in Box 7. The gross distribution should appear in Line 4a of Form 1040 and the taxable amount in Line 4b. They do not. The taxable amount appears in Line 1h of Form 1040 and the gross amount is not shown.
What am I doing wrong?
‎February 14, 2024
6:06 AM