I made a Roth IRA distribution this year (1099-R) but all of the money that I took out were for contributions only (there was never any earnings). There are no penalties?

[ericlonnett]

Note that they period has not been 5 years, but I don't think that it matters b/c we are talking about contributions only?

[NancyG]

Some Roth IRA distributions may be partly taxable. Form 1099-R, box 7 codes J, Q and T identify a Roth IRA distribution, and determine the tax treatment.

• Code Q means the requirements for tax free distributions are met. This distribution is not taxable.
• Code J means an early withdrawal where the 5-year holding period is not met and there is no known exception. The earnings are taxable and without an exception, a 10% penalty applies.
• Code T means an early withdrawal and it is unknown if the 5-year holding period has been met and an exception applies. If the holding period is not met, the earnings are taxable.

For both Codes J and T, an exception means you are age 59½ or over, disabled, or the participant has died, so there is no penalty.