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kssmw
New Member

How can I change my response to IRA question "is this your first distribution"? I did take one a couple years ago, but forgot to last year.

When reviewing my form, the question does not come up again. Turbo did say they may be able to help get the fine waived.
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1 Reply
DanaB27
Employee Tax Expert

How can I change my response to IRA question "is this your first distribution"? I did take one a couple years ago, but forgot to last year.

Was this a Roth IRA? And are you referring to the question "Withdrawn from your Roth IRA before 2022?"

 

If yes, then please follow these steps:

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top and type “1099-R” 
  3. Click on “Jump to 1099-R” and enter all your 1099-Rs
  4. Click "Continue" on the "Review your 1099-R info" screen
  5. Answer all the questions until the "Withdrawn from your Roth IRA before 2022?" screen
  6. Make sure you enter the net contributions prior to 2022 (prior year direct contributions minus prior distributions) on the "Enter Prior Year Roth IRA Contributions" screen
  7. Answer the remaining question.
  8. If you withdrew earnings and are under 59 1/2 then you get the "Did you use your IRA to pay for any of these expenses?" screen where you can enter exceptions for the 10% early withdrawal penalty.

 

Please be aware, you can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free

 

Please see IRS Exceptions to Tax on Early Distributions for additional information.

 

If this doesn't answer your question then please provide more details about your situation and we will be happy to help you.

 

 

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