I withdrew 10k from my Roth IRA to buy my first home, do I need to file IRS Form 8606-T?

[FF3]

Turbotax is telling me to wait for Form 8606-T, so I can't file my taxes yet. I already completed everything else for federal and state filing, so the only holdup is waiting for this one form, which seems to have been delayed twice already. I have contributed over 10k to my Roth IRA over several years, so no earnings withdrawn. This is my first withdrawal, no conversions from other accounts or traditional IRAs, only a Roth IRA. I opened my first Roth IRA account over five years ago, but subsequently closed it to consolidate the funds into one brokerage with lower fees. As far as I can tell, the 10k withdrawal from a Roth IRA, contributions only, would be a qualified distribution, so no tax due. Do I still need to file 8606?

[Phillip1 · Accepted solution]

Yes, you need to file Form 8606. 

This form is used to report the taxable portion of a non-qualified Roth IRA withdrawal. Non-qualified Roth IRA withdrawals are withdrawals before you are the age of 59.5. Since your withdrawal was 10k for a first-time home purchase, the withdrawal will not be taxable. 

However, Form 8606 is needed so that IRS allows you take the withdrawal tax free.