You will need to figure out your ROTH IRA basis and Fair Market Value (FMV) of your Roth IRA account in order to determine how much of your distribution is taxable. If you have been reporting your ROTH contributions and the fair market value (FMV) at the end of each year on your tax returns, TurboTax should have this information. If not, you will need to get this information from the financial institution that handles the Roth IRA account. You will need to know (1) your total Contributions made to the ROTH IRA account and (2) the FMV of the ROTH IRA account as of 12/31/25. Once you have these two figures, go to the 1099-R section in TurboTax and go through the interview questions and enter that information so TurboTax calculates the amount that is subject to penalties.
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