khorshed
Level 4
10-08-2020
10:15 AM
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A client with 1099-R code "T" (Roth IRA Distribution, exceptions applies ), my question is if it's Roth distribution why Proseries calculate the entire amount as income? I know the 5 years rule applies, but it should not be on the basis. where does the basis amount go on the 1099-R worksheet?
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Level 15
10-08-2020
10:28 AM
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You need to go to the IRA Basis worksheet, I think theres a quickzoom button to jump to it down further on that 1099R worksheet.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
khorshed
Level 4
10-08-2020
10:45 AM
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Thank you so much Lisa👍