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Solved

Roth ira contribution withdrawal

Forum|Forum|7 years ago
June 4, 2019
1 reply
10 views

My spouse withdrew some ROTH contributions (only) but TurboTax is treating this as taxable but it shouldn't. As an experiment, if I switch the 1099-R to me then TT doesn't make that taxable. My spouse's ROTH was opened > 5 yrs ago and 2016 was her first withdrawal. The 1099-R has option "J" and checkbox for "taxable amount to be determined". How can I get TT to treat this correctly?

TurboTax Deluxe Windows

Best answer by

You need to tell the software what her contributions to the Roth were. After inputting her 1099-R exactly as printed, you will land on a 1099-R summary screen. Click Continue, and after a few questions you will see Enter Prior Year Roth IRA Contributions (see screenshot). This is the amount that will be exempt from tax, unless you're over 59.5, in which case it would automatically be tax-free (if the 5 years had passed)

A

Anonymous

Answer

You need to tell the software what her contributions to the Roth were. After inputting her 1099-R exactly as printed, you will land on a 1099-R summary screen. Click Continue, and after a few questions you will see Enter Prior Year Roth IRA Contributions (see screenshot). This is the amount that will be exempt from tax, unless you're over 59.5, in which case it would automatically be tax-free (if the 5 years had passed)

dkparsonsAuthor

Level 2

Thanks. That worked. I thought I'd be prompted for that question as I entered each 1099-R but it's only at the end.