Re: how do I report a distribution from an inherited Roth IRA

how do I report a distribution from an inherited Roth IRA

Is a distribution from an inherited Roth IRA taxed. Does it have to be reported on a tax return?

posted

A distribution from an inherited Roth IRA is not taxed, as long as the account had been open at least five years at the time of the owner’s death. If the decedent was not your spouse, you'll have to withdraw a minimum amount, a Required Minimum Distribution (RMD) each year.

You do need to report this distribution to designate it as a qualified Roth distribution, and to indicate that you received the RMD for the year.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

IsabellaG

Can you please clarify your respond with respect to principle and earnings separately?

While the inference is that if the account has been open for LESS THAN 5 years, the distribution is taxable, wouldn't the tax only be on the earnings and not the principle?

and to the question of HOW to report; you should receive a 1099 form from the trustee; just input that into TT EXACTLY as it reads