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1099-R with T code?

khorshed
Level 4

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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Just-Lisa-Now-
Level 15
Level 15

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♥¸¸.•*¨*•♫♪

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2 Comments 2
Just-Lisa-Now-
Level 15
Level 15

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♥¸¸.•*¨*•♫♪
khorshed
Level 4

Thank you so much Lisa👍