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Retirement tax questions
Thanks for your reply.
I think I should have added the following information, but this is my first (and only) Roth IRA which was a rollover from the after-tax 401k during November 2019.
For the 2020 1099-R (full withdrawal of the Rollover Roth IRA)
Box 1 (Gross Distribution): 39,150.50
Box 2a (Taxable amount): (blank)
Box 2b Taxable amount not determined: x (or checked)
Box 2b Total distribution: x (or checked)
Box 4 (Federal income tax withheld): 5,872.52
Box 7 (Distribution Code): J
Box 14 (State tax withheld): 3,5223.51
During 2019 tax year, I received 2 forms related to the rollover of the after-tax 401k amount to the Roth IRA.
2019 Form 5498 (2019 IRA Contribution)
Box 2 (Rollover contributions): 39,028.43
Box 7 (IRA type): Roth IRA
(There is another Form 5498 and that was due to rollover of before-tax 401k amount).
2019 1099-R (Rollover distribution which contains before- and after-tax 401k amounts)
Box 1 (Gross distribution): 113,047.35
Box 2a (Taxable amount): 0.00
Box 2b Total Distribution: x (or checked)
Box 5 (Employee contrib/design Roth contrib): 39,028.43
It seems I cannot determine that the Roth IRA is more than 5 years old since it was opened only last November 2019.