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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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:
Source: TurboTax FAQ
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