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Roth IRA Distribution on 1099-R

I took $2000 distribution of a Roth IRA account in 2019, which opened over many years. I have retired in 2018 an did not make any contribution to this account that year. The 1099-R shows $2000 in box 1. Box 2 is blank. Both boxes in 2b are checked. The distribution code is T. 

Do I need to report this distribution as an income and how?  My understanding is that any distribution from Roth IRA entitles Tax exemption. 

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1 Reply
HelenC12
Expert Alumni

Roth IRA Distribution on 1099-R

Yes, you have to enter the 1099-R form on your tax return however the $2,000 will not be taxed because it has Code T - Roth IRA distribution, exception applies.

 

Here's how to enter your 1099-R in TurboTax:

  1. Open (continue) return if you don't already have it open.
  2. Inside TurboTax, search for 1099-R and select the Jump to link in the search results.
  3. Answer Yes on the Your 1099-R screen, then select Continue.
    • If you land on the Your 1099-R Entries screen instead, select Add Another 1099-R.
  4. Select how you want to enter your 1099-R (import or type it in yourself) and then follow the instructions. You can add up to 20 1099-Rs.

Source: TurboTax FAQ

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