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mickrhonda
Level 2
Feb 2, 2021 5:27 PM UTC
Question

roth basis

do i need to show roth basis when taking a roth distribution

This topic has been closed for replies.

3 replies

George4Tacks
George4Tacks
Level 15
Feb 2, 2021 5:48 PM UTC

You should be tracking it. Screen 24 > Roth IRA

Answers are easy. Questions are hard!
    qbteachmt
    qbteachmt
    Level 15
    Feb 2, 2021 6:23 PM UTC

    "do i need to show roth basis when taking a roth distribution"

    Yes, certain distributions require it for computations.

    Don't yell at us; we're volunteers
      sjrcpa
      sjrcpa
      Level 15
      Feb 2, 2021 6:52 PM UTC

      If you don't it will all show up as taxable, and maybe with a 10% penalty, too.

      The more I know the more I don’t know.
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