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roth basis

mickrhonda
Level 1

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

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3 Comments 3
George4Tacks
Level 15

You should be tracking it. Screen 24 > Roth IRA


Answers are easy. Questions are hard!
qbteachmt
Level 15

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

Yes, certain distributions require it for computations.

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sjrcpa
Level 15

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.