DanaB27
Expert Alumni

Retirement tax questions

 

Yes, you can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free

 

Please click continue after you entered all your 1099-R and are on the "Review your 1099-R info" screen. TurboTax will ask more questions about the distribution. 

 

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R” and enter all your 1099-Rs
  4. Click "Continue" on the "Review your 1099-R info" screen
  5. Answer all the questions and make sure you enter the net contributions prior to 2020 on the "Enter Prior Year Roth IRA Contributions" screen
  6. Answer the remaining question.

You can verify your entry by looking at Form 1040 line 4:

 

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left
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