Retirement tax questions

A Code J, in box 7 of Form 1099-R indicates that there was an early distribution from a ROTH IRA.

You should enter the 1099-R into your TurboTax program exactly as it is printed. TurboTax will then ask you some follow-up questions, like the amount of your Roth IRA contribution basis.

The amount may or may not be taxable, depending on the amount distributed and your basis in ROTH IRA Contributions. This information must be entered for the TurboTax to calculate the taxable amount.

You will enter your Form 1099-R as it is printed in TurboTax as follows:

In TurboTax Desktop: 

1. Select "Wages & Income" under the Federal Tab (in the Gray) bar across the top
2. Select" I'll Choose what to work on"
3. In your "Income Summary" scroll down to "Retirement Plans & Social Security"
4. Click on "Start" or "Update" next to "IRA, 401(K), Pension Withdrawals (1099-R)"
5. Click on "Add Another 1099-R"
6. Select "I'll Type it Myself"
7. Select the type of Form 1099-R you have, and Continue
8. Enter your "Payer Name" and the rest of your Form 1099-R details
9. Answer all follow-up questions on the screens that follow

In TurboTax Online:

1. Open your return and select "Pick up where you left off"
2. Select Wages & Income" in your left panel
3. You will see the 1099-R's that you already entered 
4. Select "Add/Edit" next to the 1099-R's
5. Select "Add another 1099-R"
6. Select "Change how I enter my form"
7. Select "Type it myself"
8. Select the type of form 1099-R you received (It'll be the first box "Financial Institution or Other Provider")
9. Select "Continue"
10. Enter your Payer Information and the rest of your Form 1099-R details
11. Answer all follow-up questions on the screens that follow

Click here for when to use a Form 1099-R.

Click here for instructions on where to enter your Form 1099-R

Click here for a list of Box 7 codes for Form 1099-R

If you have additional information or questions regarding this, please return to Community and we would be glad to help.