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February 25, 2025
Question

Entry of data for 1099R for RMD Distribution from traditional IRA

  • February 25, 2025
  • 1 reply
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I am trying to enter all the relevant data for a distribution from a traditional IRA. I entered all the data from the 1099R. However, the program did not ask me to enter the value of the IRA on 12/31/2024 which is required by    Form 8606 to deduct the taxable amount of the IRA distribution. How do I trigger the program to ask me for the the value of the IRA on 12/31/2024?

    1 reply

    February 25, 2025

    After you enter your Form 1099-R, you should see a question regarding having made nondeductible contributions to your IRA in previous years, you have to answer yes to that question: 

     

    Then TurboTax will ask you for your balance in IRA accounts and the end of 2023 and 2024.

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