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Returning Member
posted Mar 8, 2025 10:09:38 PM

Turbo Tax is counting my Roth IRA distributions for 2024 as taxable income. Why is that? I am 61 years old and need some of my Roth distributions to make ends meet!!!

Has Roth income or distributions been changed by the corrupt Biden Administration? Roth IRA contributions give a taxpayer NO benefit on the Front end, but are suppose to be tax exempt when withdrawls are taken. Has the Law changed OR has the government secretly changed the rules? Turbo Tax is ADDING $11,000 to my AGI, this money came from my ROTH IRA!!!

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1 Replies
Expert Alumni
Mar 9, 2025 3:34:06 AM

No, the law hasn't been changed. To verify, when you check line 4b of Form 1040 it shows the Roth distribution as taxable? What is the code in box 7 of your Form 1099-R?

 

To preview Form 1040 in TurboTax Online:

 

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left

 

If you had the Roth IRA for 5 years then this should be a Qualified Distribution since you are over 59 1/2. Your Form 1099-R should have code T or Q.

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top and type “1099-R” 
  3. Click on “Jump to 1099-R” and enter all your 1099-Rs
  4. Click "Continue" on the "Review your 1099-R info" screen after you entered all you Form 1099-R
  5. Answer "Owned Any Roth IRA for Five Years?" screen
  6. Continue through the questions and make sure you enter the net contributions prior to 2024 on the "Enter Prior Year Roth IRA Contributions" screen (if you had the Roth IRA for 5 years and have code T or Q in box 7 of Form 1099-R then you can ignore this question.)