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January 31, 2025
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Taxable IRA Distribution

  • January 31, 2025
  • 1 reply
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2024 Turbotax is not correctly calculating the taxable amount due on line 4b given the IRA distribution on line 4a and the reported QCDs for the year. The taxable amount (4b) is calculated to be $10437 less than the amount distributed however I had only declared $6750 in QCD. The taxable amount on line 4b should be less than the amount distributed on line 4a by only $6750.  I do not have Roth IRAs or anything complicated like that.

Best answer by dmertz

Check to see if Form 8606 Part I is being included in your tax return where a lower taxable amount is being calculated due to you having told TurboTax that you have basis in nondeductible traditional IRA contributions.

1 reply

dmertzAnswer
Employee
February 1, 2025

Check to see if Form 8606 Part I is being included in your tax return where a lower taxable amount is being calculated due to you having told TurboTax that you have basis in nondeductible traditional IRA contributions.

truebooAuthor
February 1, 2025

Yes, that was it. Thank you SO much!