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Level 2
April 18, 2023
Question

1099-R Basis of Retirement Income

  • April 18, 2023
  • 1 reply
  • 0 views

I received a 1099-R for early Distribution of a traditional IRA. Turbotax is asking for a Basis of Retirement Income for PA Tax Filing. Would I implement what is in Box 1 (Gross Distribution) or implement 0.00 (which is what is filled in already)

1 reply

Level 8
April 18, 2023

Would you clarify, did TurboTax put the zero in the box?

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ijr222Author
Level 2
April 18, 2023

Yes.  At the top it says “Enter basis of the retirement income of $1,641”

 

in the box below reads “

Basis of Retirement Income

0.00”

 

This was prefilled information that was rolled over from my Federal information, so wanted to be sure this was correct.