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Level 5
October 8, 2020
Solved

1099-R with T code?

  • October 8, 2020
  • 2 replies
  • 25 views

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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Best answer by Just-Lisa-Now-

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.

2 replies

Just-Lisa-Now-
Intuit Community Champion
October 8, 2020

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♥¸¸.•*¨*•♫♪
khorshedAuthor
Level 5
October 8, 2020

Thank you so much Lisa👍