@Ruby11 wrote:
I withdrew $6000 in 2021 from a Roth IRA that I had contributed since around 2000. My financial advisor stated i could pull out some of my contributions tax-free. The 1099-R came with a code J. I prefer to not get into entering Roth IRA info to get TurboTax to calculate what is taxable. Is it possible to simply enter the right combination of codes in the 1099- screen to get the $6000 as not taxable? If so, what are the proper codes to use?
No, it's not permissible to change anything on the Form 1099-R. Doing so might produce the correct taxable amount but it won't produce a correct tax return and you'll likely get a letter from the IRS indicating that you underreported income. You must click the Continue button on the page that lists the Forms 1099-R that you have entered and provide the additional information that TurboTax requests, in particular the amount of the Roth IRA contribution basis, so that TurboTax can prepare the required Form 8606 Part III to calculate the taxable amount of the distribution.
