2679327
I have a ROTH IRA I inherited from a trust. Because the oldest beneficiary is my 98-year-old mother, I need to withdraw about 25% of it per year. Taxes were paid on the money by my deceased uncle, so TurboTax should not be characterizing this as taxable income, but in both the Federal and State parts of the program, it is doing that. How can I tell Turbotax Federal and State (Massachusetts) not to tax this withdrawal?
I'm using the Desktop version of Turbotax for Windows. (Weirdly, I can't select Windows in the "Choose the Platform" box below).
Thank you!
David
You'll need to sign in or create an account to connect with an expert.
NOTE: I am able to put a 0 in the taxable amount box of the 1099-R, which eliminates the incorrect Federal tax on the amount, but I can't find a way to tell the Massachusetts part that this is a tax-free distribution.
Please clarify what the code is in Box 7?
The code in box 7 is "T" What does this code mean?
Also, 2b is checked. The Roth IRA is from California, and it's 15 years old, if that's relevant.
Thanks,
David
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
RandlePink
Level 2
willgal
New Member
amyyoung8312
New Member
Britania
Level 2
hillite
Level 3
in Education