Please make sure that you answer the follow-up questions carefully. If the Roth IRA was opened before 2018 then this will be a Qualified Distribution and tax-free. If it had been open for less than 5 years then you will have to make you calculate the taxable amount. You can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free.
- Login to your TurboTax Account
- Click on "Search" on the top and type “1099-R”
- Click on “Jump to 1099-R” and enter the Form 1099-R
- Select "yes" to "Did you inherit the IRA"
- Answer if the Roth was opened before 2018
- If it wasn't then you need to calculate the taxable amount and enter it (click the Learn more link if needed)
- Answer the remaining question.
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