On the 1099-R TurboTax prepared, it says :
"If box 7 code is 2 or 5, check if this distribution is from a Roth IRA (See Help)"
and the box near this is checked
but my box 7 is J. why is this checked?
On my original 1099-R from broker, there is nothing like this. Look at under boxes 10 , 15, 16, 17. I also include a screenshot. I put a circle around it. So why is this box checked? Yes I took distribution from a Roth IRA, but my box number 7 was code J. NOT 2 or 5.
Does this get sent to IRS? or it is just for our viewing? If sent to IRS, does it mean an error? Or it means nothing as long as my forms 1040 and 8606 are correct? (and they are)
Because there is nothing like this from my original 1099-R from my broker. If it is sent to IRS and it means an error, then how do we make this x disappear from the box? I even tried deleting and entering my 1099-R from scratch. it is still there.
NOTE: if it is relevant, I opened this ROTH IRA in 2012 as new ROTH IRA (not rollover), and contributed money for several years. Then since 2015 i contributed nothing. In 2019 I took some money out of it (less than my prior contributions) this is all.
By the way "(see help)"means where? (please don't only respond to this if you don't know the response to my other questions)
TurboTax automatically marks this box just to indicate that the distribution is from a Roth IRA. Ignore the reference to codes 2 and 5 in the label given to this box.
Will this get sent to IRS?
It shows up only when I print the third option below. It doesn't show up in the first two options:
-Just my tax return
-Include government worksheet
-Include government and turbotax worksheet
It doesn't appear in the first two options. So it means it is not sent ?