RitaB Posted February 28, 2017 Report Posted February 28, 2017 So I have a qualified ROTH distribution that broker doesn't know is qualified and used Code T. Ok, fair enough. ATX sends amount to Line 19 of Form 8606. OK, fair enough, again, as I am apparently the only person on earth who knows it's qualified. My client sure didn't. I had to dig thru records. So, I can override and make line 19 blank. How can I get an actual zero to print there? I'm thinking IRS will think I ignored the issue if line 19 is blank, but there were no nonqualified distributions, and I want a zero there. 2 Quote
Abby Normal Posted February 28, 2017 Report Posted February 28, 2017 I can't get you a zero but I have a slightly used 1 you can have. But seriously, I don't think the IRS will care if it's blank. 3 Quote
RitaB Posted February 28, 2017 Author Report Posted February 28, 2017 34 minutes ago, Abby Normal said: I can't get you a zero but I have a slightly used 1 you can have. But seriously, I don't think the IRS will care if it's blank. Hahahaha, thank you, and Vanna has nothing on you. If you can't get a zero, I'm in good company. 2 Quote
Hahn1040 Posted February 28, 2017 Report Posted February 28, 2017 I had one of those. Like you, I knew it was qualified (he is 68 and contributed to the ROTH 100 years ago... well in 1998 anyway) I know his cost basis, so i put that on line 22 so that there is no taxable. Now... if the cost basis is less than the distribution, then that won't be a fix. of course, the real fix is to get a corrected 1099-R.... but we all know how well that will go... 3 Quote
RitaB Posted February 28, 2017 Author Report Posted February 28, 2017 1 hour ago, Hahn1040 said: I had one of those. Like you, I knew it was qualified (he is 68 and contributed to the ROTH 100 years ago... well in 1998 anyway) I know his cost basis, so i put that on line 22 so that there is no taxable. Now... if the cost basis is less than the distribution, then that won't be a fix. of course, the real fix is to get a corrected 1099-R.... but we all know how well that will go... Yes, I thought of that line 22 fix, but it's not really truthful, even if basis exceeds distribution, since line 19 SHOULD be zero. But I'll be honest, I am tempted. There is no chance of a code correction, as that's what Code T is for - account custodians with new accounts. Too bad it's an option, and they don't have to find out when the taxpayer contributed. Oh well, that's why we are heroes. 3 Quote
jasdlm Posted March 2, 2017 Report Posted March 2, 2017 I had the same problem. Fixed it with the basis. Just a quicker solution all the way around if the basis is high enough to eliminate your problem. Quote
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