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On form 1040, line 4a shows the total IRA distributions and line 4b shows the taxable amount.
Some IRA distributions such as rollovers are not taxable.
Also qualified Roth IRA distributions (when owner is aged 59 1/2 and over , and Roth account is more than 5 years old) are not taxable.
hi and thank you very much!
this is really part of a more detailed query:
i posted this but not quite sure what to do:
This year TT has different numbers in the 4A and 4B IRA distribution. I am wondering if this is correct since it has always been a single taxable amount in prior years, with no entry for the 4B line. I'm roughly the same age i.e. turned 65 in spring 2022 and wondering if this has something to do with it? The amount in line 4B is much lower than the amount in 4A, something like 66% lower!
But the more vexing question: for the NJ Non resident tax, line 22, they ask for "Dividends " Pensions, Annuities and IRA Withdrawls
Do I enter the dividends from 1040 4A or 4B?
In prior years, there was only one possiblility but this year there are two and I'm unclear which to enter .
thank you. i'm perplexed.
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