I withdrew $ 2,000 from a Roth IRA that was 10 years old.How do I enter this information into turbotax?

I should not have to pay taxes on this amount, yet turbotax has put this amount into distributions from IRA. How do I enter this info into turbotax?

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1 Best answer

Expert Alumni

Jun 6, 2019 12:41:44 AM

If you received a 1099-R, it is a Distribution from an IRA account.

Whether it is taxable or not depends on the Code in Box 7 of the 1099-R. When you enter the 1099-R into TurboTax, you will be asked some questions about your distribution.

TurboTax will report the distribution on your tax return, but it will not be taxable income.

Here's more info:

https://ttlc.intuit.com/replies/3301082