markncgolf
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Thank you for sending publication 590. I understand now. Thank you for your patience.
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Since my wife Amy had not reached the age of 59 /1 2 at the time of the Roth distribution in 2020, I believe the distribution in excess of the basis is taxable....
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The Roth was inherited. My wife's first husband owned the ROth and died in 2005. I think the code T is correct. The Payer used the Code T on line 7 i for 2019 a...
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- Posted Re: For 2020 we had a Roth Distribution of $44,000. Our basis was $30,000. Age was less than 59 1/2 at time of distribution. Line 7 code is T, so no penalty. turbo tax shows no taxable income. That is wrong. How can we get Turbo Tax fixed. on Get your taxes done using TurboTax. February 23, 2021 4:50 PM
- Posted Re: For 2020 we had a Roth Distribution of $44,000. Our basis was $30,000. Age was less than 59 1/2 at time of distribution. Line 7 code is T, so no penalty. turbo tax shows no taxable income. That is wrong. How can we get Turbo Tax fixed. on Get your taxes done using TurboTax. February 23, 2021 4:34 PM
- Posted Re: For 2020 we had a Roth Distribution of $44,000. Our basis was $30,000. Age was less than 59 1/2 at time of distribution. Line 7 code is T, so no penalty. turbo tax shows no taxable income. That is wrong. How can we get Turbo Tax fixed. on Get your taxes done using TurboTax. February 23, 2021 4:26 PM
- Posted We had a Roth distribution of $44,000 in 2020. Basis is $30,000. Age is less than 59 1/2. Box 7 is T. On TurboTax tax return it shows no taxable income. Why? on Retirement tax questions. February 23, 2021 4:15 PM
- Posted For 2020 we had a Roth Distribution of $44,000. Our basis was $30,000. Age was less than 59 1/2 at time of distribution. Line 7 code is T, so no penalty. turbo tax shows no taxable income. That is wrong. How can we get Turbo Tax fixed. on Get your taxes done using TurboTax. February 23, 2021 3:59 PM
- Posted In 2020 we had a Roth Distribution of $44,000 on a basis of $30,000. $14,000 WAS TAXABLE. I input the info and Turbotax shows $0 taxable income which is wrong on Retirement tax questions. February 22, 2021 4:39 PM