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For IRA rollover, (Trad to trad), how do I make the "basis adjustment" required by Pennsylvania law for state taxes?

In the federal section, I entered everything as written on the 1099-R, but the state section seems to be telling me I'll need to do something different for PA law? Box 7 on the 1099-R is code G. 

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DianeC958
Expert Alumni

For IRA rollover, (Trad to trad), how do I make the "basis adjustment" required by Pennsylvania law for state taxes?

There is not a basis adjustment for PA when you roll a traditional IRA to another Traditional IRA.

 

Often you do not have basis in an IRA since the IRA is usually funded with before tax dollars.

 

Link to How do I know if the amount on my 1099-R is Taxable on my PA Tax return

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2 Replies
DianeC958
Expert Alumni

For IRA rollover, (Trad to trad), how do I make the "basis adjustment" required by Pennsylvania law for state taxes?

There is not a basis adjustment for PA when you roll a traditional IRA to another Traditional IRA.

 

Often you do not have basis in an IRA since the IRA is usually funded with before tax dollars.

 

Link to How do I know if the amount on my 1099-R is Taxable on my PA Tax return

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

For IRA rollover, (Trad to trad), how do I make the "basis adjustment" required by Pennsylvania law for state taxes?

Thank you!! 

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