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wmoersch
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Confusion of multiple IRA accounts

I converted 403(b) funds to annuities. Those annuities reported distributions on 1099-R with the IRA / SEP / SIMPLE box checked. TurboTax is confusing those distributions with my Traditional IRA and reducing the nondeductible basis of the Traditional IRA. This is avoided if I uncheck the annuity1099-R boxes, but is there another solution?

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1 Reply

Confusion of multiple IRA accounts

Are you saying you getting funds from that annuity?

What type of account holds the annuity?

 

If your IRA/SEP/SIMPLE box is checked, You have to show it on your return

You no longer have a 403b and the IRA taxable amount will consider your basis.

 

@wmoersch 

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