2873703
Initial start up was 6.5k. Cashed out with +10k after 7 years. The 1099-R form shows no taxable amount and the 2b check box checked for 'Taxable Amount Not Determined'.
In fact the rest of the amounts are $0.00.
Distribution code T. Held Roth for 5 years now age 67.
Is this truly tax free? I have to get affirmation because nothing is tax free.
You'll need to sign in or create an account to connect with an expert.
That's the whole point of a Roth IRA -- tax- free growth.
You should have known that going in.
There are two requirements for a withdrawal to count as a qualified distribution:
This is the legal description. It is a positive one in my case.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
shanesnh
Level 3
pchicke
Returning Member
tcondon21
Returning Member
bruce-carr49
New Member
CWP2023
Level 1