@itsmegerryt wrote:
here was a question about "net contribution to Roth IRA prior to 2020" (i.e. I think it was referring to 2019 and earlier). Does this refer to that rollover contribution amount of 39,028.43?
The 1099-R for 401(k) distribution that was rolled to a Roth IRA should have had your after-tax contributions in box 5.
When TurboTax asks for your prior contributions for your Roth IRA distribution add that amount to your contributions. Since this was a rollover and NOT a conversion, the 5 year rule has been met if you owned ANY Roth IRA 5 or more years.
If your first and only Roth IRA was created in 2019 then the 5 year rule has not been met.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
