KarenM90
Expert Alumni

Retirement tax questions

No, your 1099R is correct as issued.

 

If you continue through the IRA section, after you enter the 1099R (exactly as it was reported to you, with Code J in Box 7) TurboTax will ask you a series of questions regarding disasters and several other topics. 

 

When you get to the end of that section it will ask you to Enter Prior Year Roth Contributions.  When you enter the total amount of your contributions, only any amount of your withdrawal that exceeds this contribution will be taxed.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"