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greg1147
New Member

Dot has a 1099 R from principal with contributions after tax what box needs to be checked to avoid being taxed on the amount withdrawn

Dot has a 1099 R from principal with contributions after tax what box needs to be checked to avoid being taxed on the amount withdrawn
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3 Replies
LindaS5247
Employee Tax Expert

Dot has a 1099 R from principal with contributions after tax what box needs to be checked to avoid being taxed on the amount withdrawn

Contributions made to a Roth IRA would be "after tax" contributions.  

 

Your Form 1099-R should be entered as shown unless you have reason to believe that it is incorrect.  

 

You should contact Principal if you believe your Form 1099-R has been improperly coded.

 

Click here for a list of Box 7 codes for Form 1099-R.

 

Click here for instructions on entering your Form 1099-R.

 

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Dot has a 1099 R from principal with contributions after tax what box needs to be checked to avoid being taxed on the amount withdrawn

there is no such checkbox.

it cannot be 100% tax free because a Traditional IRA distribution or conversion always has a basis fractional part and a taxable fractional part as calculated on Form 8606.

 

@greg1147 

Dot has a 1099 R from principal with contributions after tax what box needs to be checked to avoid being taxed on the amount withdrawn

if your IRA is all non-deductible contributions

you can avoid tax if your IRA has dropped in value below that amount.

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