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Retirement tax questions
@dmertz Sorry if this message appears twice - doesn't look like TT posted it first time I typed it. Form 8606 Line 1 shows my 2017 $5500 contribution and Line 2 shows my 2016 $5500 contribution+401(k) money. Line 3 sums these correctly but I'm wondering if line 2 should not include the 401(k) money in the basis? Line 13 shows an incorrect nontaxable portion because it includes the 401(k)/Tradition IRA money that was converted to Roth IRA and I know this should be a taxable event. Line 16 shows the correct amount converted but line 17 is definitely not right.
Not sure if I should just override the values or do I need to delete everything and start over in TT for my 1099-Rs and IRA information?
Not sure if I should just override the values or do I need to delete everything and start over in TT for my 1099-Rs and IRA information?
‎June 6, 2019
11:18 AM