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Retirement tax questions
You do need to report the distribution for the Roth IRA on your return.
Review your entries for the Roth IRA distribution in the 1099-R section of TurboTax to make sure that the amount in box 2 is $0 or nothing reported in that box and the box for Taxable Amount not Determined is not checked.
Instructions for where to go to this information in TurboTax
- Open (continue) return if you don't already have it open.
- Click on magnifying glass in the upper right hand corner
- Type in the box that opens the tax form you received
- Click on the first option
- Enter the information into TurboTax
This will give the program the information to not include this distribution as taxable income. The amount for the distribution should show on line 4c and then the taxable amount shows on the line 4d.
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‎February 25, 2020
8:31 AM