How to report year end value of 403 B

Forum|Forum|2 years ago
March 2, 2024
2 replies
0 views

I was able to input the year end value of my Traditional IRA - but didn't find a way to input the year end value of my 403B. Since I am required to take an annual withdrawal from the 403 B - I assume I need to insert the year end value somewhere. Thank you for your guidance.

Best answer by mglauner

You only need to report year end values of retirement accounts where you made Non-Deductible Contributions, on Form 8606.

If you are getting annual RMD distributions reported to you on Form 1099-R, you don't need to report the year-end value of your 403B account to the IRS. The Plan Administrator is responsible for distributing the correct amount to you each year.

Here's more info on Tax Sheltered Annuity (403b) Plans.

@tax filing

mglaunerAnswer

You only need to report year end values of retirement accounts where you made Non-Deductible Contributions, on Form 8606.

Here's more info on Tax Sheltered Annuity (403b) Plans.

@tax filing

tax filingAuthor

Thank you Marilyn G1. I always know that the TT community is willing to share their expertise and give me the information that I need! Thank you for your quick response.