Federal 2010: Basis in IRA - Miscellaneous Itemized Deductions

You may be affected if ALL of the following are true:

1. You filed a tax return before March 10, 2011, AND
2. You or your spouse withdraws or rolls over to Roth the entire balance in all of you IRAs such that you have $0 in any IRA, AND
3. You enter zero for the value of all of your IRA’s in the name of that taxpayer(s) on 12/31/10, AND
4. You made a non-deductible contribution to a 2010 IRA AFTER December 31, 2010, AND
5. You had miscellaneous itemized deductions in excess of the 2% threshold

If you are affected, you may have underpaid your federal tax. You will need to amend your federal tax return.

If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the Federal: Miscellaneous Itemized Deductions Basis in IRA.

Let us do the work for you. We highly recommend this. 

1. Please download and print this Authorization Form.
2. Complete the form and fax it to us at the number printed at the top of the form.
   • Note: After we receive your completed authorization form, please allow up to 15 days to amend your return.
3. You can print, sign and mail the corrected return to the IRS.

Or you can make the corrections yourself. However, the amend process can be complex. 

• To do it yourself, please follow these step-by-step instructions.
  • Amending your federal return
  • Amending your state return
• After you make the changes to your tax return, you will need to mail a copy of
  • Your federal to the IRS and
  • Your state return to your state tax authority, if your state return is affected.
• Your printed returns will include instructions on how and where to mail them.
• If you need assistance, call us at the phone number in the TurboTax email.