Last year I changed financial institutions from Ameriprise to Osaic. When I got my 1099-R for a Roth distribution from Ameriprise it was coded Q for Qualified distribution, as I am 65 and have not contributed to the Roth in 8 years. But when I got 2 1099-R from Osaic for 2 Roth distributions they were coded with a T for exception applies.
I clicked the button that says I had the Roth IRA opened before 2019. The federal form picks it up correctly, but the Massachusetts state form X has the distributions coded as a Q as not taxable but the ones coded with a T as taxable. Is there a bug in the TurboTax MA state?
I understand that since the Roth was opened for 5 years and I’m over 59 anything distributed from the Roth is not taxable since I already paid tax on it, both Federal and State. I have had conversions done over the last couple of years from an IRA to this Roth, but I paid taxes on them when they were converted so I shouldn’t have to pay taxes on any Roth distribution. Am I missing something?
