I made the withdrawal from both Roth IRAs at Fidelity. There was a $5K deposit in each in 2007. The result was a distribution of $4885 from one (loss) and $5443 from the other (gain). So now we're ready for TurboTax. Create 2 1099-R's.#1: Box 1 $5443, Box 2 $443, Box 7 1, and check the IRA box.#2: Box 1 $4885, Box 2 $0, Box 7 1, and check the IRA box.This should give you $443 on line 15b and $44 on line 60 of the 1040.Phil Phil,I finally got all my data to file, and.I did all of the above with the following changes. Box 7, I selected "8" vs "1" and I did check the IRA box.This resulted in the $10,329 in 15a, $443 in 15b, but nothing on line 60.Also, the fairmark folks suggested to everyone with a similar situation to add an explanatory note, so the IRS will be happy when this is reported for 2008. I added the explanation at line 15b where there is box to select an explanation, but I don't see where this shows up in the forms to the IRS.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra