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Tax law changes
Hi Jia,
thank you for your question.
If you used TurboTax Live to file your taxes, easiest way to get answer to your question is by having a TurboTax Live Expert review your tax return and answer your question. the review will allow us to see how and what entries were made and what information was there on your 1099R(s).
Further it is not clear if your IRA account balance as on 12/31/2021was '0' or $3821.
- if the balance of your IRA account is '0' then you may need to amend your tax return to correct so that $7000 (your after tax contribution to your IRA account) is converted free of any tax liability.
- if the balance of your IRA account was $3821, then you did your taxes right and will be able to use your remaining basis while filing your 2022 taxes.
Hope this answers your question.
Thanks again for reaching out.
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‎September 28, 2022
12:35 PM