Hi!
I have a similar question regarding an error on my 1099-R as the result of an early distribution from my Roth IRA.
I contributed $11,000 to my Roth IRA and it increased in value over the years. I needed to take money out so I initiated a distribution through my brokerage company and sold stock for $10,500 (making sure not to remove the gains). The 1099-R notes the $10,500 in Box 1, and 2b is marked 'X' 'Taxable income not determined'.
Then 'J' in Box 7 "Early Distribution from a Roth IRA" which then triggers a taxable event?
How do I indicate to the IRS that the transaction noted in the 1099-R is a simple removal of my initial contribution?
Do I need to have the brokerage company revise Box 7?
Any help would be great!
