Why is my 15 year old Roth IRA $8000 withdrawal after age 70 being taxed?

[Bsch4477]

What was the code in box 7 of your 1099-R?

[JohnB5677]

Let's first check your 1040 Tax return, and then you may have to go back through the interview.

You can view your 1040 tax return and the supporting three schedules in the online version of TurboTax.

1. On the left menu, scroll down to Tax Tools.
2. If necessary, click the side arrow and select Tools. 
3. A box will appear in the middle of the screen.
4. Select View Tax Summary.
5. A tax summary will appear.
6. On the left side menu bar, select Preview My 1040.
7. This will bring up a copy of your 1040 Tax return.

Total IRA distributions are on line 4a

Taxable distributions are on line 4b

4a should be greater than 4b by the amount of the ROTH distribution.

If this is not the case, you can go back and check the interview.

1. Start at Wages & Income 
2. Scroll to IRA, 401(k), Pension Plan Withdrawals (1099-R) [Add/Edit]
3. Select the Roth posting
4. Use the pencil on the right to Edit your postings
5. Go thru the entire interview
6. Pay specific attention to your entry in Box 7 of your 1099-R.
7. Code indicating a ROTH distribution are:
   1. J (early distribution), 
   2. Q (qualified, 5-year rule met), 
   3. T (unsure if the 5-year rule is met), and 
   4. H (direct transfer/direct rollover).