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Level 1

Once my traditional ira withdrawals include accumulated and appreciated monies how does turbocharge handle that?

 
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Employee Tax Expert

Once my traditional ira withdrawals include accumulated and appreciated monies how does turbocharge handle that?

The distribution will be taxable as income if it includes earnings and appreciated money.  

 

But, if you made non-deductible contributions in addition to deductible contributions to the Traditional IRA, you will be able to enter your basis (the non-deductible contributions) and then the taxable portion of the distribution will be automatically calculated by TurboTax based on your entries.

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2 Replies
Employee Tax Expert

Once my traditional ira withdrawals include accumulated and appreciated monies how does turbocharge handle that?

The distribution will be taxable as income if it includes earnings and appreciated money.  

 

But, if you made non-deductible contributions in addition to deductible contributions to the Traditional IRA, you will be able to enter your basis (the non-deductible contributions) and then the taxable portion of the distribution will be automatically calculated by TurboTax based on your entries.

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

View solution in original post

Level 1

Once my traditional ira withdrawals include accumulated and appreciated monies how does turbocharge handle that?

Thank you very  much for your response. 

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