I have a 1099R for a 401K Roth, I should have already pd taxes on this correct? So should I have a taxable amount listed on line 2a? Do Is still owe taxes on this?

[MaryK1 · Accepted solution]

If it is not a qualified distribution, you pay tax on the earnings and you may have to pay a penalty.  A qualified distribution is any payment or distribution from your Roth IRA that meets the following requirements.

1.     It is made after the 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit, and

2.     The payment or distribution is:

• Made on or after the date you reach age 59½,
• Made because you are disabled
• Made to a beneficiary or to your estate after your death, or
• One that meets the requirements for a First home purchase

If you receive a distribution that is not a qualified distribution, you may have to pay the 10% penalty