fanfare
Level 15
Member profile
Retired taxpayer, forum participant. no connection with Intuit.
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For an inherited IRA with basis, the names on 8606 should be "<owner> and <your name> BENE" or Beneficiary if it fits, and your SSN.TurboTax won't let you enter...
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The end result may not be the same either way on your state tax return, depending on your state's rules.@plikakis01
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If allowed. the $4,000 will be taken as an IRA deduction unless you explicitly take the non-deductible election. You should have noted that before e-Filing.If y...
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You can't amend a return that IRS does not have on file.@macnam
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enter the Dividend as nominee income - income that belongs to someone else.It will be subtracted.The "someone else" is your IRA.@syoung123
Activity Feed for fanfare
- Posted Re: Too late to claim basis for inherited traditional IRA? on Retirement tax questions. 6 hours ago
- Posted Re: Recharacterization did not show as deduction on 2024 return but it does today. on Retirement tax questions. yesterday
- Posted Re: Recharacterization did not show as deduction on 2024 return but it does today. on Retirement tax questions. yesterday
- Posted Re: Do I amend TY 2024 (Turbo Tax says my return was accepted by IRS on 7 Apr 2025 but recent notice from IRS says I need to file which tells me they have no record!)? on After you file. yesterday
- Posted Re: 1099DIV Brokerage FBO IRA Questions on Get your taxes done using TurboTax. Monday
- Got Cheered for Re: Why are we paying income tax on Social Security. Sunday
- Posted Re: We had to cash in an IRA in order to pay for a major household applicance. Can I show part of this as RMD being paid? on Retirement tax questions. Sunday
- Got Cheered for Re: Why are we paying income tax on Social Security. Sunday
- Posted Re: Why are we paying income tax on Social Security on Retirement tax questions. Sunday
- Posted Re: I owe tax of $3.83 for an over-contribution of my Roth IRA in 2024. Do I have to amend my 2024 tax return since it is such a small amount? on Retirement tax questions. Sunday
- Posted Re: what if the amount of distribution received is less than actual value on Retirement tax questions. Saturday
- Posted Re: RMD entry for First Year on Retirement tax questions. Saturday
- Posted Re: How to report RMDs for multiple IRAs that are satisfied from by a single RMD event from one account. on Retirement tax questions. Saturday
- Posted Re: RMD on Retirement tax questions. Saturday
- Posted Re: RMD on Retirement tax questions. Saturday
- Posted Re: How do I know if I need to enter My Required Minimuum Distribution? on Retirement tax questions. Saturday
- Posted Re: Excess Roth Contributions. Recharacterization? on Retirement tax questions. Friday
- Posted Re: I'm trying to enter a backdoor roth IRA. I've tried many times, but am never prompted to enter non-deductible IRA contributions in either 1099R or the deductions section on Retirement tax questions. Friday
- Posted Re: Can someone explain why Turbo Tax has put $950 in on Form 8606 line 2-Nondeductible contribut... on Retirement tax questions. Thursday
- Posted Re: Why does Turbotax do "Needs Review" for all Vanguard 1099B Transactions where the Date Acquired is "Various" on the 1099B. I don't recall having this issue in the past. on Investors & landlords. a week ago