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jagzilla
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roth ira early distribution

I am 47 years old I did not qualify for Roth IRA . I  rolled money from a traditional IRA and rolled it over to a ROTH IRA from 2011 to 2016. in 2019 I withdrew money from my ROTH IRA. I'm not sure if I pay taxes on it since I already did when I rolled over from traditional to ROTH IRA?

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1 Reply

roth ira early distribution

When you enter the 1099-R for the distribution, TurboTax will ask about prior contributions and then about prior conversions.  A distribution of earnings from a conversion done less than 5 years before the distribution might be taxable but after 5 years is not.    TurboTax will ask the amount of conversion and the year of the conversion to calculate that.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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