I have 8606 with non deductible IRA balance form prior year’s. Where in TT can I find how to handle this situation when receiving Dist from an IRA?

[njarif]

I have contributed after tax money to Trad IRA in years past. The balance of the non deductible IRA has been reported to the IRS on form 8606 each year I did so. My IRA has after after tax moneyas well as pre tax money.  I am about to receive a Distribution form my IRA this year.  I wolud like to know where in TT2018  can I find  a) Where to enter the Distribution data and b) Where do I enter the balance on my 8606?, c) The total amount of my IRAs & d) How does TT figure out the taxable portion of my Distribution.

[fanfare · Accepted solution]

when entering a 1099-R for an IRA, TurboTax will ask you about your situation, and provide the necessary screens. Do not fail to hit the CONTINUE button.

[dmertz]

fanfare is referring to the Continue button on the Your 1099-R Entries page.  After clicking this button TurboTax will ask you if you about your nondeductible traditional IRA contributions.  If you've been using TurboTax all along, TurboTax should already have your information regarding your basis in nondeductible traditional IRA contributions, but, if not, you'll have the opportunity to enter the amount from (usually) line 14 of your previously filed Form 8606 and your 2018 year-end balance in traditional IRAs that you own.  TurboTax will then prepare 2018 Form 8606 to calculate the taxable and nontaxable portions of your distribution.  You can review the calculation method on that form.

[njarif]

Thank you both for your replies