Taxable Roth Distribution?

[plkrout]

A client has an early distribution from a Roth IRA. I've entered $0 taxable in box 2, Dist code J, and check-marked Roth IRA, but it is included on the 1040 line 4 as taxable income, (in addition to the 10% early withdrawal penalty). Is this a ProSeries Basic error, or am I missing something?

[garman22 · Accepted solution]

Do you have the clients basis entered? It's probably picking it up as income because there is no basis entered. 

[Just-Lisa-Now-]

Yep! Gotta have basis!

[plkrout]

Doh!  That was it - thank you!   

[garman22]

you bet!:+1: