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Roth IRA distribution on 1099-R, box 2a is blank, 2B both boxes checked , Box 7 is Q, box 12 is 0, no box 14. is it taxable federal ? State?

 
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Employee Tax Expert

Roth IRA distribution on 1099-R, box 2a is blank, 2B both boxes checked , Box 7 is Q, box 12 is 0, no box 14. is it taxable federal ? State?

No, it is not taxable.  You must report the income, but it will be exempted from taxable income.  Box 7 code Q means it is a qualified distribution, which is not taxable to the IRS, and shouldn't be to the state, either (since no information is reported in box 14 which would report the state distribution amount).

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Employee Tax Expert

Roth IRA distribution on 1099-R, box 2a is blank, 2B both boxes checked , Box 7 is Q, box 12 is 0, no box 14. is it taxable federal ? State?

No, it is not taxable.  You must report the income, but it will be exempted from taxable income.  Box 7 code Q means it is a qualified distribution, which is not taxable to the IRS, and shouldn't be to the state, either (since no information is reported in box 14 which would report the state distribution amount).

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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