I'm feeling like I don't see how to process my Early ROTH withdrawal in
- TurboTax Premier Desktop for 2020.
I paid myself out of my ROTH IRA during covid.
I took one withdrawal to pay down debt and have a fresh start to go back to school. I had the investment firm take out and pay the Federal early withdrawal penalty amount in that case. I set aside part of the money towards potential income tax on my own.
I took another withdrawal to pay my living during full-time education. I considered this not subject to early withdrawal penalties and had the investment firm take out nothing, and set aside part of it towards potential income tax on my own.
So the 1099R reasonably says "J - income tax not calculated", and nothing else other than the combined amount for the year.
- I expect to report the full amount as income
- and then claim the part towards education as not subject to early withdrawal penalty.
- But TurboTax Desktop 2020 is saying it is all non-taxable, (because of the "J" ?)
- and there is nowhere to discuss withdrawal reason.
Is this scenario outside the ability of TurboTax ?
