Clem2020
Level 1
‎02-28-2022 03:27 PM

Client has a box 7 code T on a Roth IRA distribution. The 5 year holding rule is satisfied. How get the program to recognize this distribution should be excluded from taxable income?

0 Cheers
rbynaker
Level 14
‎02-28-2022 03:31 PM

Scroll down on the 1099-R Wks, I think there's a box to check.

Just-Lisa-Now-
Level 15
Level 15
‎02-28-2022 03:37 PM

Does it have an dollar figure in the taxable amount box?

Seems like the ones I see with a T dont have anything in the taxable box.  Then the program prompts you to check the box on the IRA information worksheet about how long you've had the account.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Dusty2
Level 7
‎02-28-2022 04:01 PM

Do they have basis of at least that amount?