IRA Distribution
I know someone who is using Turbo Tax Deluxe to file a tax return. He has withdrawn $50K from his traditional IRA at age 61. A part is non-deductible when he contributed (say 10K for his 100K account). How to enter 5K (= 10K * 50/100) as the return of principle that should not be taxed.
Is 8606 the right form?
Thanks!
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