MarilynG1
Expert Alumni

Retirement tax questions

In the instance where you are taking a distribution of Roth principal, the tax-free status is indicated on the Form 1099-R by the Code Q in Box 7, or perhaps Code B. 

 

Is your distribution showing in TurboTax as taxable?  Is this on the Income Summary page or on your actual Form 1040?  If on the Income Summary page, that is just for display showing it was entered, and does NOT make it taxable on your return. 

 

If you're using TurboTax Online, in the left-side menu, go to Tax Tools > Tools > View Tax Summary, then back to left-side menu for Preview My 1040 to verify that it is not showing as taxable on Line 4b.

 

Here's more info on Codes in Box 7 and Roth Distributions. 

 

 

 

 

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