Did not report Qualified Roth Distribution - should I file an amended return ? Oops ... Tom

Forum|Forum|7 years ago
June 4, 2019
8 replies
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Best answer by MargaretL

Yes, you should report form 1099-R reporting your Roth Distribution. Form 8606 must be filed when receiving a distribution from a Roth IRA. If your return has been submitted- please wait - if it's rejected for some reason, you can add your 1099-R and re-send the return.

If your return has been submitted and accepted- you will have to amend; the return is mailed; takes about 16 weeks to process. Here are amending instructions.

MargaretLAnswer

Level 12

If your return has been submitted and accepted- you will have to amend; the return is mailed; takes about 16 weeks to process. Here are amending instructions.

Tom in CarolinaAuthor

Level 5

Hey Margaret - Thx for the speedy reply. Just to confirm the facts: I am 65 years old and the money has been in the Roth for more than 5 years, hence it is not penalized or taxable. Do I still need to report it ? If so - would it be better to wait and see if I get audited since it is not a taxable event? Many thanks, Tom