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TAXABLE AMOUNT ON A 1099-R

Joe Carter
Level 3

HOW DO YOU MAKE THE TAXABLE AMOUNT $0

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4 Comments 4
abctax55
Level 15

Enter a zero?

Find basis equal to the distribution?

Does the 1099-R show zero but the box "taxable amount not determined" is checked?

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qbteachmt
Level 15

How did you determine it is supposed to be $0?

What is this payout in regards to? From what sort of account or entity, for what reason?

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George4Tacks
Level 15

If you want a zero, use a negative one 

-1 = 0

0 = a blank space

Welcome to the Wonderful World of ProConnect Tax Online (and Lacerte.)

 


Here's wishing you many Happy Returns
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abctax55
Level 15

George... " -1 " in ProSeries?   I thought that was a Lacerte trick.

"*******Tax software is no substitute for a professional tax preparer*******
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