BrightonBob
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OK, Looking at the 1040, I see that even though the full withdrawal is shown in the 1099-R section, the basis is deducted on line 4b of the 1040. Thanks.
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Sorry, I didn't go far enough to get to the questions. I did as you instructed and TT still shows the $21,217.45 withdrawal as 2020 income.
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Thank you for your response, however, I don't get any of those questions. I even tried deleting the 1099-R and reentering it, putting the $18,000 in Box 5 and 3...
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- Posted Re: TT not deducting basis from Roth IRA withdrawal on Get your taxes done using TurboTax. February 13, 2021 12:53 PM
- Posted Re: TT not deducting basis from Roth IRA withdrawal on Get your taxes done using TurboTax. February 13, 2021 12:21 PM
- Posted Re: TT not deducting basis from Roth IRA withdrawal on Get your taxes done using TurboTax. February 13, 2021 12:15 PM
- Posted TT not deducting basis from Roth IRA withdrawal on Get your taxes done using TurboTax. February 13, 2021 11:27 AM