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New Member
posted Jun 6, 2019 8:42:59 AM

I have a distribution from my Roth IRA entirely from my own contributions. It looks like the program is making it taxable? But it shouldn't be, right?

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1 Best answer
Expert Alumni
Jun 6, 2019 8:43:00 AM

If you have owned that Roth IRA for more than 5 years and distributions are less than your prior contributions, the distribution is not taxable. Make sure that you indicate that you owned the Roth IRA for more than 5 years. And also enter your prior contributions in the TurboTax interview (see attached screenshot).

You can then preview your 1040. To do this, click on Tax Tools in the left-hand column. On the Tax tools page, click on View Tax Summary. Then click on Preview 1040 in the left-hand column. You should find the amount of your distribution on line 15a. Taxable amount on line 15b should be 0.

2 Replies
Expert Alumni
Jun 6, 2019 8:43:00 AM

If you have owned that Roth IRA for more than 5 years and distributions are less than your prior contributions, the distribution is not taxable. Make sure that you indicate that you owned the Roth IRA for more than 5 years. And also enter your prior contributions in the TurboTax interview (see attached screenshot).

You can then preview your 1040. To do this, click on Tax Tools in the left-hand column. On the Tax tools page, click on View Tax Summary. Then click on Preview 1040 in the left-hand column. You should find the amount of your distribution on line 15a. Taxable amount on line 15b should be 0.

New Member
Jun 6, 2019 8:43:02 AM

Thank you!  I didn't know how to preview the 1040, and it does show line 15b as 0.  The wages/income page made me think it was taxable.  Thanks for the quick response!