Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
B
butlerbd21
April 3, 2024
Question

How do I show a discounted valuation of a Blocker investment? My 1099-R shows the full amount of an IRA converted to Roth for the purpose of a Blocker investment.

  • April 3, 2024
  • 1 reply
  • 0 views
I have the discounted value of the Blocker but cannot find out how to report so that I won't get taxed on the whole amount

1 reply

D
dmertz
Employee
April 3, 2024

If the IRA custodian used an incorrect valuation for the investment, you'll need to convince the IRA custodian of the actual value of the investment on the date of the distribution from the traditional IRA and get them to issue a corrected Form 1099-R.

TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification