It appears that the problem is coming from the "IRA Information Worksheet" page 2, line 23. The amount should be the balance as of 12/31/16, but included in this line is the rollover amount, which was a 2017 transaction.
You'll need to sign in or create an account to connect with an expert.
The amount on the IRA Information Worksheet line 23 comes either by carryover from line 8 of your 2016 IRA Information Worksheet or from your explicit entry into 2017 TurboTax. It seems likely that you included the basis rolled over from the Roth 401(k) to a Roth IRA in 2017 when TurboTax asked for your basis for years prior to 2017. If the amount shown on line 23 is in green text, it's been transferred in from your 2016 tax file. If it's in blue text, it's an amount that you entered yourself.
To fix this, either in forms mode enter on line 23 the correct basis carried in from 2016 or in step-by-step mode go through the Traditional and Roth IRA Contributions section correct the amount when TurboTax asks for your basis for years prior to 2017.
The amount on the IRA Information Worksheet line 23 comes either by carryover from line 8 of your 2016 IRA Information Worksheet or from your explicit entry into 2017 TurboTax. It seems likely that you included the basis rolled over from the Roth 401(k) to a Roth IRA in 2017 when TurboTax asked for your basis for years prior to 2017. If the amount shown on line 23 is in green text, it's been transferred in from your 2016 tax file. If it's in blue text, it's an amount that you entered yourself.
To fix this, either in forms mode enter on line 23 the correct basis carried in from 2016 or in step-by-step mode go through the Traditional and Roth IRA Contributions section correct the amount when TurboTax asks for your basis for years prior to 2017.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
kare2k13
Level 4
Sandy55
New Member
GonaFishin
New Member
aE
Level 3
hjcarrillo
New 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.