turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts All About the Refund! >> Event happening NOW!!!!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I withdrew all the money from my Roth IRA and received a 1099R showing the total distribution. Where do I enter the contributions made so I am not taxed again?

I am under 59 years old. And I've had this Roth IRA for more than 5 years, transferring money between funds within the Roth IRA during this time. I understand the 10% early withdrawal penalty. The total distribution box show, for example, 10k of which only 3k is earnings. I do not see where to enter the contributions I've made in prior years so I am not taxed the 7k again.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
IreneS
Intuit Alumni

I withdrew all the money from my Roth IRA and received a 1099R showing the total distribution. Where do I enter the contributions made so I am not taxed again?

After entering the information from the 1099-R, you will be able to enter the contributions you made prior to 2019.

 

 

To enter this in TurboTax, please follow these steps:

  1. Click on Federal > Wages & Income.
  2. Scroll down to the Retirement Plans and Social Security section and click on the Start/Revisit box next to IRA, 4701(k), Pension Plan Withdrawals (1099-R).  
  3. Since you've already entered one (or more) 1099-Rs, you will see a screen Your1099-R Entries.   Click Edit next to the 1099-R. 
  4. A few screens after the 1099-R entry, you will see a screen, Owned Any Roth IRA for Five Years?  Mark the Yes button and click Continue.
  5. On the Withdraw from your Roth IRA before 2019? screen, click the No box.
  6. On the screen, Enter Prior Year Roth IRA Contributions, you will be able to enter your contributions you made in prior years. 
  7. Continue through the screens, entering the requested information.

 

[Edited | 4/14/2020 |  7:50am PDT]



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
IreneS
Intuit Alumni

I withdrew all the money from my Roth IRA and received a 1099R showing the total distribution. Where do I enter the contributions made so I am not taxed again?

After entering the information from the 1099-R, you will be able to enter the contributions you made prior to 2019.

 

 

To enter this in TurboTax, please follow these steps:

  1. Click on Federal > Wages & Income.
  2. Scroll down to the Retirement Plans and Social Security section and click on the Start/Revisit box next to IRA, 4701(k), Pension Plan Withdrawals (1099-R).  
  3. Since you've already entered one (or more) 1099-Rs, you will see a screen Your1099-R Entries.   Click Edit next to the 1099-R. 
  4. A few screens after the 1099-R entry, you will see a screen, Owned Any Roth IRA for Five Years?  Mark the Yes button and click Continue.
  5. On the Withdraw from your Roth IRA before 2019? screen, click the No box.
  6. On the screen, Enter Prior Year Roth IRA Contributions, you will be able to enter your contributions you made in prior years. 
  7. Continue through the screens, entering the requested information.

 

[Edited | 4/14/2020 |  7:50am PDT]



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies