PChin
Level 3
01-31-2021
02:08 PM
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Yes box 7 - J and Roth IRA box checked. I even entered the taxable amount with an explanation in 2(a).
Here is my scenario. $7,500 distribution but the brokerage indicated "Taxable Amount not determined". Basis is $5,634 and taxable it $1,936. On page 1 of the 1040 it shows $7,500 distributed and $7,500 taxable and is also calculating $750 penalty.