I have a simple IRA yet after I enter all the information from my 1099, Turbotax shows it on the line for Traditional Roth instead of as "Pension and Annuity Distribution. I do not have a Roth IRA.
You'll need to sign in or create an account to connect with an expert.
Your distribution is correctly entered on line 4 of Form 1040.
Line 4 instructions state: "An IRA includes a traditional IRA (which includes a traditional IRA that receives contributions from a simplified employee pension (SEP) arrangement), Roth IRA (which includes a Roth IRA that receives contributions from a SEP arrangement), and a SIMPLE IRA (a SIMPLE IRA may either be a traditional SIMPLE IRA or a Roth SIMPLE IRA)."
Thank you.
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.
jak530
New Member
jackkgan
Level 4
justysvo
New Member
XP666
New Member
jgimpel1969
New Member