- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
The only reason that entering your year-end value in traditional IRAs would affect your tax due when you have entered no Forms 1099-R reporting distributions from traditional IRAs is if the year-end value was involved in determining the penalty for having made an excess traditional IRA contribution. Check to see if you have Form 5329 Part III calculating such a penalty. Also check to see that you have nothing on line 7 or 8 of a Form 8606 that would indicate that you entered a Form 1099-R that reports a distribution from a traditional IRA.
March 27, 2025
4:30 PM