I have 2 questions regarding Roth IRA Distributions
1) My 1099-R shows 2 distributions (distribution code J) from my account (distribution was for the same Investment Company, but with separate amounts for 'A' shares and 'C' shares) from same payer. Is it OK to add both amounts together under one 1099-R in TurboTax?
2) I am under 59 1/2 and received the distribution in 2020 for the total of my principal contributions from 2012 through 2018 (no contributions were made in 2019 or 2020). Since I was under 59 1/2, but had been in the plan for over 5 years, I assumed there would not be any taxes/penalties since I did not get any distributions on earnings.
When you get to the screen “Enter Prior Year Roth Contribution” it asks you to Confirm net regular contributions prior to 2020 that remain in your Roth IRA. In the box on the screen it asks for “Roth IRA Contributions prior to 2020”. Should I put amount as 0.00 since I received full distribution of all prior year contributions in 2020 and which no longer remain, or is it asking for the total contribution amounts I made in years prior to 2020?
