DanaB27
Expert Alumni

Retirement tax questions

You do not need to enter Form 5498 anywhere, they are for your records.

 

You stated the state tax return had a wrong amount  but the federal was correct? Then you can amend your federal return using TurboTax. If you need more detailed help try: What is the TurboTax phone number?

 

You will use the 2019 Forms for 1040 and 5329. The Form 1040X is used for multiple years, you will check 2019 on the top. 

 

You will combine the amount in box 1 and enter it on line 4a and the combine the amount in box 2a and enter it on line 4b on Form 1040. The earnings are taxed at your income tax rate.

 

You will enter the amount of box 2a on line 1 of Form 5329 and then follow the instructions to fill out the lines 2-4. You will only need to fill out part I. You will have one Form for you and one for your spouse.

 

 

In Hawaii, payments from the Roth IRA that are not qualified distributions will be taxed to the extent of earnings including the 10% additional income tax on early distributions.

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