catsci06
New Member

I withdrew contributions from my Roth IRA & it's being taxed 25% . Box 1's information is $8,000. Box 2A is empty & Box 2B is checked. Box 7's code is J. How can I fix?

The contributions had been in my Roth IRA for longer than 10 years.
A withdrawal of contributions from a Roth IRA is not supposed to be taxed. After confirming the information from my financial institution was correct in Turbotax, then answering the following questions, I was sent to the next part of my taxes, with my amount owed to the federal government being substantially more than it was before entering the IRA withdrawal information. Turbotax is taxing me 25% of my withdrawal & shouldn't be. Please advise on how to proceed to get this corrected.