I am trying to complete my MA returns today (Marc, 2024) for the tax year 2023 and am a little confused with the word "previous" in both questions for taxable IRA section.
You'll need to sign in or create an account to connect with an expert.
Q1. Yes, you will enter all previously taxed contributions. In your case: $12,500.
Q2. It means distributions prior to 2023 and this included the amounts that were converted. Therefore, you would answer $6,001.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
movinit56
Level 3
OvermyheadNE
Returning Member
tracyturner1
New Member
Dasher2
New Member
mhdfp
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.