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Retirement tax questions
Not sure if I'm asking the question the correct way but, I'm having difficulty entering a ROTH distribution. In early 2018, (prior to April 15th) , my wife and I contributed $13000 each to ROTH IRAs for 2017 & 2018. Unfortunately, at the end of the year an emergency situation required that I we take almost all the funds back out of the ROTH. I have received 1099Rs with code J for $11022 & $12512 respectively. Since these were obviously after tax contributions, we should be able to back the contributions out without tax consequences as I understand it. However, I can't figure it out on Turbo Tax. It has the majority of the distribution as taxable. What am I doing incorrectly?
‎June 15, 2019
3:53 PM