You should not owe taxes on the income withdrawn from your Roth IRA as long as it has also been at least 5 years since your first contribution to the account
.
For a Roth IRA or Roth 401(k) withdrawal to be entirely tax-free you must be over the age of 59 1/2 and meet the 5-year holding requirement.
Even if your Roth IRA distribution is tax-free, you should enter the information provided on your 1099-R into TurboTax. The code in Box 7 of form 1099-R will tell TurboTax how to treat the income.
Qualified Roth IRA/401(k) distributions will have code "Q" in Box 7 of Form 1099-R.
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