A friend quit her job and cashed out her Roth 457 plan. She is 52 years old. Her 1099-R shows the following amounts:
Line 1 $1285 Gross Distribution
Line 2a $1285 Taxable Amount
Line 4 $ 10 Fed tax w/h
Line 5 $1238 Employee Roth Contributions
Line 7 Code 2
Does it appear that this is the proper way to account for this type of distribution?
I believe the taxable amount should be $1285 - $1238 or $47. How is it entered into the tax software?
Any help would be appreciated...
