Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: Re: Inherited Roth IRA distribution Date: 4/2/2012 3:51 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
It shouldn't care, but it asks anyhow. Even if I try different answers, it doesn't get to the 8606.

I just did a test return in TaxAct, and it accurately added the 8606 and calculated the taxable portion of the distribution (zero) after I input the total of prior conversions (line 24. I just made up a number larger than line 19). No overrides were required. The distribution amount properly flowed to line 19 of the 8606.

I can't believe TT can't handle this, so it must be an input problem somewhere. Check your 1099-R input screen. Box 1 should be the gross amount of the distribution. The "taxable amount not determined" box in Box 2b should be checked. You have already advised that Box 7 is "T." All other numbered boxes should be blank or zero.

I'm not crazy about your proposed workaround since I suspect it's not a software problem, and you're looking at this situation through TY 2014. If TT tech support can't tell you what's wrong, move up the food chain.

Phil
Rule Your Retirement Home Fool
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement