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Level 4
February 26, 2024
Solved

1099 R with box T. it shows as taxable on the 1040 but it is not,how do i correct this?

  • February 26, 2024
  • 2 replies
  • 5 views
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Best answer by qbteachmt

It's based on date of any Roth account existing, date of conversion, and/or converted basis. Run through all the eligibility factors to confirm it qualifies as tax exempt and penalty free.

2 replies

rbynaker
Level 13
February 26, 2024

You probably need to enter the Roth IRA contribution/conversion basis in the Roth IRA (on the IRA Info Wks?)

qbteachmt
qbteachmtAnswer
Level 15
February 26, 2024

It's based on date of any Roth account existing, date of conversion, and/or converted basis. Run through all the eligibility factors to confirm it qualifies as tax exempt and penalty free.

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