nontaxable Cares Act Roth distribution - what lines of 8915E should it show

Forum|Forum|5 years ago
March 11, 2021
8 replies
42 views

my Cares Act nontaxable Roth distribution showing up on line 5 of 8915E not in column 2 of line 3 - is this correct since it is a Roth that is nontaxable. is it still classified as a covid distribution even though declared on line 5.

DaveF1006

Alumni - Intuit

No. it sounds like you reported this incorrectly in Turbo Tax. If entered correctly:

It should show up in the Smart Worksheet that is in the beginning to 8915-E in Box C under Total Distributions and Distributions on 8915-E
It should also appear in Line 3 in columns A & B.
Line 5 should be blank
You might want to go back and review your entries regarding this 1099-R. Check your distribution Code in Box 7. Should be a J, which indicates this is an early distribution from a Roth IRA. If any other distribution code is listed, then you may need to get a corrected 1099-R from your trustee of your retirement account.
Also carefully answer the COVID questions in the follow up questions after you review/edit your 1099-R form

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dmertz

Level 15

If editing the 1099-R form does not cause the Roth IRA distribution to be treated as a CRD, delete and reenter the 1099-R being careful to answer the questions as indicated by DaveF1006.

kndwilley1840Author

Level 2

Thank you both but the roth withdrawal was not an early distribution. code given was T. I am 67 and have had the roth for over 5 years. Just want to include as covid since it was - so I can repay over 3 years since I lost my job last year and forced to retire. did try to delete and reenter the roth but did not change 8915E???