turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Turbotax not calculating new IRA basis after distribution

Years ago we made after tax contributions to our IRAs. When we started to have IRA distributions in 2021, I failed to include the IRA basis so the pro-rata rule was not used. I am now trying to amend my returns to correctly calculate the IRA basis and to get a refund on the taxes we paid 2022-2024 on after tax contribution distributions. I cannot get Turbotax 2021to use the pro-rata rule after entering the total basis as of December 31,2020.(I checked the 1099-Rs for the IRAs and the IRA box was checked for the IRA distributions.) It says my IRA deduction is $0. I went in manually to the worksheet and entered the total value of the IRAs as of 12/31/21, but that did not change the results. How can I get TurboTax to do the correct calculation?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Turbotax not calculating new IRA basis after distribution

I think I figured out what I was doing wrong. No need for anyone to bother with this.

View solution in original post

1 Reply

Turbotax not calculating new IRA basis after distribution

I think I figured out what I was doing wrong. No need for anyone to bother with this.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question