My wife had a Roth IRA that was moved into a 529 plan. The 1099-R shows a distribution of $8,100 with a taxable amount of $8,100. I'm confused because she contributed money after tax and never got a deduction for it. Box 5 shows $6,900 with code 2. Is this supposed to reduce the taxable amount, and why is my tax software not reflecting this reduction?

May 25th, 2024

I bought a house for my daughter, who was supposed to pay rent but never did. I didn't file any returns for rental income or expenses. After 2 years, I sold the house at a loss. Can I claim the loss as a loss of business property sold?

May 1st, 2023

How can I get a copy of my W2 form from 1976 and 1977 if my work records are no longer available?

May 28th, 2023

I cannot load T Tax [/topics-tax/] for Windows; don't want or need App. How can I install the TT program?

March 31st, 2023

For Chad EA, CFP: I have estimated state taxes for 2018. Turbotax prepared four vouchers for my payments for 2018, but since the amounts are under $40 each, I think it's a waste of checks to write. Is it possible and advisable for me to pay the entire $145 amount at one time? If so, should I do it now or make sure I do it before the end of the tax year? And should I use one of the vouchers that was prepared but pay the entire amount instead of the quarterly amount printed on the voucher?

November 22nd, 2023