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Get your taxes done using TurboTax
Code E indicates that you have an excess contribution in a designated Roth account in an employer plan like a 401(k), not in a Roth IRA. Code E is never used for distributions from a Roth IRA.
Box 2a of the Form 1099-R issued by Schwab will indicate the taxable amount. There is no option not to receive the distribution so you are stuck with whatever taxable amount is shown on the Form 1099-R; there is nothing you can do to change it, so your only concern is that you have tax withholding or have made estimated tax payments sufficient to avoid any tax underpayment penalty.
‎November 6, 2022
7:39 PM
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