@michaelcottier wrote:
Awesome! Thank you for all of your help 🙂
Essentially, you have to keep track of your Roth contributions.
When you enter the 1099-R, it will show the withdrawal and the withholding. Turbotax will ask you for the total of your contributions and previous withdrawals. Assuming the math works out so that the current withdrawal is all considered from contributions, it won't be taxable, and the withholding will go to your overall credit. If your total payments and withholding is less than your total tax, you get a refund.
The 1099-R from the custodian might or might not have an indication of how much is taxable, but it is really down to your own record keeping. The IRS might or might not do some computer matching and catch you if you get it wrong, but there is some indication they don't do this routinely.
