DanaB27
Expert Alumni

Retirement tax questions

If you are taking a distribution before 59 1/2 then TurboTax needs this information to check if your distribution is taxable. You can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free. 

 

If you are over 59 1/2 and had the Roth IRA for 5 years then your distributions will be Qualified Distributions. Your Form 1099-R should have codes T or Q and you can ignore the question about the net contributions prior to 2024.

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