This should be an easy one. I contribute to a Fidelity Roth IRA each month and the money gets deposited into a "core cash" account prior to investing in a few mutual funds. I made a $1200 withdrawal from the core account last year, and I received a 1099-R for early withdraw. The $1200 contribution I already paid taxes on, and I do not pay an early withdraw penalty when taking out my contributions prior to 59 1/2......right?
So I don't see where I have to pay anything at all (taxes or penalty) for taking the $1200 out of the core account. Why did I get a 1099-R and will Turbotax just work this out when I entry the 1099-R info?
