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Withdrawal of Roth IRA Contributions - how to report in TurboTax
I took a $5k withdrawal of CONTRIBUTIONS from my Roth IRA in 2020. I know its penalty/tax free and it shows as non-taxable on Federal return. However, when I try and complete the inputs in TurboTax it is asking for my nondeductible contributions in all of my TRADITIONAL IRAs. Why does that matter? And the $5k withdrawal is showing as taxable in NJ and I'm also unable to figure out how to change that to non-taxable. Thanks.
May 14, 2021
8:29 AM