Distribution code 'T' indicates that this is a Roth distribution where an exception applies. This is referring to an exception to the early distribution penalty. The IRA/SEP/SIMPLE box should not be checked for Roth IRA accounts.
After you enter your Form 1099-R you should see a series of follow-up questions asking about the distribution. One of the questions specifically asks if it is from a Roth IRA. You will also see questions about what you did with the money from the distribution. There will also be questions about how long you have had a Roth IRA and whether you have previously taken distributions as well as how much has been contributed to the Roth IRA since you have had the account. All of these questions are required to determine how much, if any, of the distribution will be taxable.
When you have completed that section of your return, Form 1040 line 4a should show the total distribution amount, and line 4b should show how much is being taxed.
If you are using a desktop version of TurboTax, click Forms in the upper section of the screen to see your Form 1040. Then, click Form 1040 on the left side of the screen.
If you are using TurboTax Online, use the following steps to Preview your Form 1040:
- On the left menu, scroll down to Tax Tools.
- If necessary, click the side arrow and select Tools.
- A box will appear in the middle of the screen.
- Select View Tax Summary.
- A tax summary will appear.
- On the left side menu bar select Preview My 1040.
- This will bring up a copy of your 1040 Tax Return.
- If you continue to scroll down, Schedules 1, 2 & 3 are available if they are required.
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