dmertz
Level 15

Retirement tax questions

Be sure to click the Continue button on the Your 1099-R Entries page and, when asked, enter the amount of Roth IRA contributions you made prior to 2017 (minus the amount of any prior distributions from your Roth IRAs).  Also make sure to enter under Deductions & Credits any Roth IRA contribution you made for 2017.  TurboTax will prepare Form 8606 Part III to calculate the taxable amount of your Roth IRA distribution.  If your distribution was less than your net Roth IRA contributions, the taxable amount will be zero and there will be no tax or penalty on the distribution.

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