JulieS
Expert Alumni

Get your taxes done using TurboTax

Yes, as DavidD66 said, the program is asking for the information to determine if your Roth contribution was a qualified distribution. 

 

You should enter each of three contributions of $6,000 for a total of $18,000 contributed prior to 2023. 

 

A qualified distribution is a distribution from your Roth IRA that is:

 

Made after the 5-year period beginning with the first tax year for which a contribution was made to a Roth IRA set up for your benefit and:

  • Made on or after the date you reach age 59½,
  • Made because you are disabled.
  • Made to a beneficiary or to your estate after your death, or
  • One that meets the requirements listed for a first home purchase (up to a $10,000 lifetime limit).

 

Since you made this distribution as part of a first time home purchase, it is a qualified distribution as long as you contributed at least that much in a prior year. 

 

That means, it isn't taxable and it isn't subject to penalty even if you are younger than 59-1/2 years old. 
 

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