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Retirement tax questions
Thank you so much for your condolences. You are very kind to offer guidance and the reading material. I do have a taxable amount now on Line 4B in Turbo when I previewed my 1040 form. Dad did have nondeductible contributions on form 8606 for this inherited traditional IRA. I was not sure where to add in that fact to get to the taxable/non taxable amounts to appear in Turbo. Any suggestions? I have not gone back and re-entered data. I shall await your response before I do that.
On the 1099R, the same amount is in Box 1 and 2a. 2b is also checkmarked. Box 7 is K4 with a checkmark in the IRA/SEP/Simple. No Box 5 entry.
With appreciation!
March 23, 2025
7:04 PM