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After tax ira contribution

I have an IRA that was funded with after tax contributions. I have taken distributions from that account in 2017. How do I enter the after tax amount, because I've already paid tax on it? 

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IsabellaG
Expert Alumni

After tax ira contribution

After you enter your 1099-R, continue through the section. On the screen Any Nondeductible Contributions to your IRA? click yes, you made and tracked nondeductible (after tax) contributions. 

You'll then enter your basis (total nondeductible contributions)  in the next screen, and the total value of all your traditional IRAs, etc as of December 31, 2017. The taxable portion of your distribution, if any, will be computed based on your entries.

See the screenshot below.

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1 Reply
IsabellaG
Expert Alumni

After tax ira contribution

After you enter your 1099-R, continue through the section. On the screen Any Nondeductible Contributions to your IRA? click yes, you made and tracked nondeductible (after tax) contributions. 

You'll then enter your basis (total nondeductible contributions)  in the next screen, and the total value of all your traditional IRAs, etc as of December 31, 2017. The taxable portion of your distribution, if any, will be computed based on your entries.

See the screenshot below.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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