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Filing online. On tax form it asks for taxable amount (2b)

Filing online. On tax...

Filing online. On tax form it asks for taxable amount (2b) on a distribution from an IRA rollover account Form 1099-R. There is no amount given, just an X in a box and saying taxable amount not determined. What does one put on the actual filing form?

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Answered in 5 minutes by:
3/10/2018
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,221
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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The taxable amount is going to be the same as the distribution unless you had paid tax already on any of the money that was rolled over.

You list the amount as taxable the same as the distributed amount unless you know you paid tax already on any of it. If it was rolled form a 401k then it is highly unlikely you paid tax on any.

Please let me know if you need more information.
If not then please scroll up to see the STARS to rate so I am credited.

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Customer reply replied 4 months ago
Already payed tax on it.

Ok then you have a form 8606 to verify that?

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Did you retain your form 8606 for the year the tax was paid?

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Customer reply replied 4 months ago
Am looking for that form now. Thank you .

Ok then you use that to calculate how much of the distribution is taxable now.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,221
Experience: 15years with H & R Block. Divisional leader, Instructor
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