1099R Box 7 Code J includes 1st time home buyer exception according to the IRS, but after entering dollar amount in the field "Roth IRA Funds Used to Buy Home", the field goes blank and TT is calculating early withdrawal penalty instead. Please help.
Why isn't the field allowing me to enter my dollar amount up to the allowed $10,000? The problem exist in both the step-by-step and on the form itself. Will not allow input.
You'll need to sign in or create an account to connect with an expert.
You need to continue the interview after the 1099-R summary screen and enter your prior years Roth contributions that were not previously withdrawn.
Withdrawing your own contributions are not taxable at all so don't include them for the exclusion. Then enter up to $10,000 in the exception screen.
For example: if your total distribution was $15,000 and your own prior contribution were $9,000 then you would apply $6,000 as the first time home buyers.
The first question does not seem to do anything but enter it this way:
(Assuming you owned any Roth for 5 years.)
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
jandan2000
New Member
jon_peara
New Member
knownoise
Returning Member
Joan2k
New Member
quinlivan1240
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.