Maybe, but probably not. The box 1 amount is the maximum for which you might claim an exception to the early-distribution penalty. However, because you can take out your Roth IRA contributions (and Roth conversions that have met the 5-year holding period) without tax or penalty, it's likely that a substantial portion of this distribution is already free of tax and penalty and needs no penalty exception.
Be sure to click the Continue button on the Review You 1099-R Items page and answer 2020 TurboTax's questions regard your basis in Roth IRA contributions and conversions made for years prior to 2020.
