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Retirement tax questions
Yes, I confirm that it meets all of the requirements for a qualified Inherited Roth IRA distribution and I am aware that NJ follows the Federal rules and treatment for it. Also, please note that TurboTax calculates the Federal tax for this distribution correctly as $0 (there is no change in the tax whether the distribution is entered or not. As I said in an earlier post, I added and deleted the 1099-R for this distribution several times to look for changes in the calculated tax.). However, the tax calculated in the NJ State program does show a difference when the distribution is added. Again, it appears that there is a glitch in the software for the NJ State taxes.
‎February 25, 2020
3:37 PM