Please be aware the exception only applies to the 10% early withdrawal penalty. The distribution will still be taxable income unless it was an after-tax contribution.
If it was a Roth IRA distribution then please make sure to enter your net contributions in the follow-up questions. 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 all your 1099-Rs
- Click "Continue" on the "Review your 1099-R info" screen
- Answer all the questions and make sure you enter the net contributions prior to 2022 on the "Enter Prior Year Roth IRA Contributions" screen
- Answer the remaining question.
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