Generally, as long as your Roth has been open for at least five years, you can withdraw as much as you want (if you're 59½ or older) or anything up to the amount you put in (if you're under 59½) without any taxes or penalties.
The problem is that you have not entered the basis of the Roth IRA in order to get the proper tax treatment of your distribution.
Entering Roth Ira information:
- Open your return.
- Search for roth ira in the search box.
- Click on jump to roth ira link.
On the next screen, be sure that Roth IRA is checked. Click Continue.
Continue through the interview. On the screen where you see Let Us Track Your Roth IRA Basis, click Yes.
Then Enter Prior Year Roth IRA Contributions (this is asking for your total contributions for years prior to 2022 (basis)). If your basis exceeds your distribution, then the distribution will not be taxable. If the distribution exceeds your basis, then the excess will be taxable.
Finish the rest of the follow-up questions about your Roth IRA.
TurboTax Expert AnnetteB6 original post to a similar question.
[Edited 3/08/23 | 2:15pm PST]
@Simone7000
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