DaveF1006
Expert Alumni

Retirement tax questions

The question will appear when you enter your 1099R information. 

 

  1. Open or continue your return.
  2. In the Federal section, select Wages & Income.
  3. Scroll to locate Retirement Plans and Social Security.
  4. Select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R)
  5. Or Social Security ( SSA 1099, RRB 1099)
  6. make sure you check the box in the 1099R indicating this is a distribution from an IRA.
  7. After the information has been entered on the 1099R, you will answer questions that follow. there will be a question asking you if you made non-deductible contributions to the IRA.
  8. Here say yes and then the next screen asks what the basis is as of Dec 31,2022
  9. After this question is answered, the next screen will allow you to enter the value of your IRA 12/31/2023.
  10. Here is what the screens should look like.  Just remember to check the Box in the 1099R entry indicating this is an IRA.


@Roams

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