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Roth IRA withdrawal shown as taxable on my completed return.

I just completed my 2024 tax return and it was accepted. I was surprised that I owed additional taxes and when I printed out my return, it is showing the Roth IRA withdrawal as taxable which is why I have to pay additional taxes. No sure how to fix this, since I correctly entered the information for a Roth IRA withdrawal.

 

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1 Reply
DanaB27
Employee Tax Expert

Roth IRA withdrawal shown as taxable on my completed return.

You will have to wait until your return is processed and then amend your return. Please see How do I amend my federal tax return.

 

If you had code J or T on Form 1099-R then you need to be sure to answer the Roth IRA follow-up questions:

 

  1. Click on "Search" on the top and type “1099-R” 
  2. Click on “Jump to 1099-R” and enter all your 1099-Rs
  3. Click "Continue" on the "Review your 1099-R info" screen after you entered all you Form 1099-R
  4. Answer "Owned Any Roth IRA for Five Years?" screen
  5. Continue through the questions and make sure you enter the net contributions prior to 2024 on the "Enter Prior Year Roth IRA Contributions" screen

 

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