I received a 1099-r for my roth ira - do I need to submit it or is it just for my files?

[knraley]

I received a 1099-r for my roth ira - but I am confused on whether I should be submitting it, as a roth ira is already after taxes and I already paid the penalty from the bank from withdrawing early.  Do I need to still submit it on my taxes or is it just paperwork for my files?

[Lakeisha]

Yes, you would need to enter this information

To enter a form 1099-R

 

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on
• Scroll down to Retirement Plans and Social Security
• On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

And then you would keep the copy for your Records