All Posts

What happened is that the IRA inherited from your husband was trustee-to-trustee transferred to an IRA of your own before you did the Roth conversion.  Such a transfer is not reportable, so the only Form 1099-R that you received is the one for a Roth conversion from your own traditional IRA.  When TurboTax asks the horribly worded question, "Did [you] inherit the IRA from [financial institution]," answer No because the distribution was made from your own IRA.

If I enter $278 for insurance for four months, TT enters for insurance $91. It is as if TT was calculating the $278 as the total amount for the year and multiplying it by 0.33 to get the amount for 4months??  .... If that is the case, in order to get the correct expense amount of $278 , I need to put the whole year insurance amount which is $835?  It does the same for my repair, maintenance and real estate taxes that I enter; it multiplies the amount entered by 0.33. 

Tried clearing cache and cookies, tried running as an administrator, tried disabling antivirus and firewall. I don't see what a different browser would do for a desktop program, especially since I cannot even open the problem.  

Will my custodian know what portion of the IRA is basis? Or do I tell them to leave the basis amount in the IRA? The reason I ask is prior to this scenario, the entire IRA was a pre-tax rollover, I made a single post tax contribution, which I immediately rolled over to Roth IRA (next day) and didn't realize the pro rata rule. So technically, there is no more post tax money (basis) in the IRA (unless you're referring simply to an amount and not a tranche as being "basis". So Now I'm trying to make the best of it for next year...

No---that would be double dipping.  The HSA money was pre-tax.   You can enter out of pocket medical expenses you paid in 2024.   MEDICAL EXPENSES The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2024—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.   To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses     2024 STANDARD DEDUCTION AMOUNTS SINGLE $14,600    (65 or older/legally blind + $1950) MARRIED FILING SEPARATELY            $14,600    (65 or older/legally blind + $1550) MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550) HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)    

Thank you!  This is helpful.  I wish I could received your response earlier.  I filed my return already.  I called and talked to someone from Turbo tax (supposed to be a tax expert).  She told me to override Line 3b on Form 1116 to 0 to get rid of the statement.  I hope that's ok too.... Thanks!

If you do not owe or will get a refund you have three years to file the return without penalty.   You do not really even need an extension unless you will owe.   But if you want one anyway, you can request an extension online.   EXTENSION   https://turbotax.intuit.com/irs-tax-extensions/     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-extension/need-file-extension-personal-state-taxes/L32Mt8ZNv_US_en_US?uid=m9a3q808