turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I made IRA a total of $22582 in after tax contributions from 1987 to 2001. Form 8606 was filed for each of those years.

I made IRA a total of $22582 in after tax contributions from 1987 to 2001. Form 8606 was filed for each of those years, but none since because no further non deductible contributions were made. What do I do in order to not pay tax on those contributions as they are withdrawn?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
MargaretL
Expert Alumni

I made IRA a total of $22582 in after tax contributions from 1987 to 2001. Form 8606 was filed for each of those years.

When you receive Form 1099-R reporting your withdrawal, please be sure to not only enter the form into TurboTax exactly as it appears, but also answer follow up questions.  The program will ask about your nondeductible contributions, which - once entered- will reduce your taxable amount on the distribution. No additional steps are needed.

View solution in original post

1 Reply
MargaretL
Expert Alumni

I made IRA a total of $22582 in after tax contributions from 1987 to 2001. Form 8606 was filed for each of those years.

When you receive Form 1099-R reporting your withdrawal, please be sure to not only enter the form into TurboTax exactly as it appears, but also answer follow up questions.  The program will ask about your nondeductible contributions, which - once entered- will reduce your taxable amount on the distribution. No additional steps are needed.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies