Roth IRA distribution after 5 yrs and disabled

Forum|Forum|6 years ago
March 20, 2020
1 reply
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I am under 59 and took a Roth IRA distribution for the full amount. I had it for more than 5 yrs and I am permanently disabled.

Here is info from 1099-R:

1 Gross distribution $19,421.49
2a Taxable amount
2b Taxable amount not determined (X)
Total distribution (X)
....
7 Distribution code(s) J
IRA/SEP/SIMPLE ( )

Since I meet the criteria for the distribution to be penalty and tax free how do I enter the information so that happens.

ColeenD3

Level 15

Are you sure it is taxable? Look on Line 4b of your 1040.

A Roth with Code 7 in Box 7 would need an additional identifier.

Designated Roth account distribution. NOTE: If code B is in box 7 and an amount is reported in box 10, see the instructions for Form 5329.

Qualified distribution from a Roth IRA.

JT-1002Author

Level 2

Thank you for the response.

The total early distribution I took from this Roth IRA is not taxable and is penalty free because I had it for more than 5 year and the exception I have is that I am totally disabled.

The question I have is how do I enter the information in TurboTax for that 1099-R inorder for the application to recognize that?

The 1099-R has Code "J" in Box 7 and Box 10 is blank.

macuser_22

Alumni - Champ

@JT-1002 wrote:

Thank you for the response.

The total early distribution I took from this Roth IRA is not taxable and is penalty free because I had it for more than 5 year and the exception I have is that I am totally disabled.

The question I have is how do I enter the information in TurboTax for that 1099-R inorder for the application to recognize that?

The 1099-R has Code "J" in Box 7 and Box 10 is blank.

The 1099-R follow-up screen will ask about exceptions to the penalty - disabled is one of them.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**