cowboys15
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12-07-2019
08:04 AM
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Client took a distribution from a non deductible IRA. He contributed the money back in 2005 thru 2007, Basis $8000. Took the total IRA valued at $16644. The 1099R shows 16644 total, 16644 Taxable, with code 7. Form 8606 has been filed in previous years, showing the 8000. How do I show this in Lacerte, so that he is not taxed on the whole thing?
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