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Retirement tax questions
From Form 1099-R, it includes a code J in box 7, indicating distributions from Roth IRA. I've held this Roth IRA for more than 15 years, and the distributions in 2023 were substantially less than the contributions I've made to the Roth over the years.
Given the tax-free nature of qualified Roth IRA distributions, my distributions are reported on my tax return so that they are not treated as taxable income. My goal is to zero out the taxable amount of Roth distributions.
Could you please tell me how to report these distributions on Turbotax return to ensure they are not taxed as income?
Thank you!
March 8, 2024
6:08 AM