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A
Anonymous
February 21, 2021
Question

Roth IRA Basis

  • February 21, 2021
  • 1 reply
  • 0 views

How do I correct "Basis in Roth IRA" on the IRA Info Worksheet?

1 reply

A
Anonymous
February 21, 2021

I found the answer myself.  Even though we're ineligible for Roth contributions, we established our bases by cumulating prior years.  We apparently missed on or two.  To make the basis correction, I had to go to Ded & Cred/Traditional & Roth  Edit, select Roth IRA for T/P & Spouse, and follow the prompts.  Eventually, it'll ask for Roth Basis.  That's where the correction is made.  Must do the drill for each taxpayer.

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