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posted Feb 10, 2025 6:53:10 PM

I took a distribution of $7500 w/contributions of $7500 made to a Roth opened 2017 for HVAC repair. How to show distribution of contributions - not earnings, to avoid tax

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Level 15
Feb 11, 2025 5:52:13 AM

Click the Continue button on the page that lists the Forms 1099-R that you have entered.  2024 TurboTax will eventually ask for the amount of your Roth IRA contributions made before 2024.  TurboTax will use this to prepare Form 8606 Part III to determine that your distribution is not taxable.

1 Replies
Level 15
Feb 11, 2025 5:52:13 AM

Click the Continue button on the page that lists the Forms 1099-R that you have entered.  2024 TurboTax will eventually ask for the amount of your Roth IRA contributions made before 2024.  TurboTax will use this to prepare Form 8606 Part III to determine that your distribution is not taxable.