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Roth IRA non-taxable distribution is being taxed!
My wife and I are not 59 1/2.
In 2020, my wife and I took out $2000 in principal originally deposited into our Roth IRAs, money that was originally deposited well before 5 years (not that it should matter) and was not interest.
After importing the two 1099-R reports in from the financial company, very few boxes were checked but those that were included "2b - Taxable amount not determined", and a code of J in box 7.
TurboTax is now taxing this distribution, which it shouldn't as it falls under the guidelines of what we can take from our Roth IRA, without being taxed.
I don't see where I can add any additional information to make this work the way it's supposed to. Help!
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‎February 10, 2021
5:00 AM