rbbartlettconsu l
Level 2
08-26-2023
03:39 PM
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My client has a Roth IRA distribution in 2022 with blank taxable amount, the taxable amount not determined box checked, and Code T. I have reviewed his contributions (all rollovers from his Traditional IRA) and all the rollovers were taxed.
He has had this Roth IRA less than 5 years. And I know because of that, there is an issue with earnings being taxable. But there is still sufficient funds in the account to cover his earnings.
I input zero in the taxable amount, since he has basis, but it does not change the taxable outcome: the entire distribution is still showing as taxable.
Any ideas on why it is still showing as taxable?
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