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New Member
posted Apr 25, 2021 4:11:32 PM

Why is turbotax saying I owe money from withdrawing Roth IRA contributions (not dividends)? My 1099-R says the taxable amount (2a) is $0.

Box 2b) says "Taxable amount not determined."  I can only assume this is because my bank moved all mutual funds to another financial institution this year.  This happened after I made the withdraw, but the 1099-R came from the new institution.  The old institution was quite clear that the money I withdrew was less than I had contributed.  Incidentally, I used the money to purchase a house (but not a first house).

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1 Best answer
New Member
Apr 25, 2021 4:36:30 PM

Never mind--there's a place later you can specify your contributions.  That fixed it.

1 Replies
New Member
Apr 25, 2021 4:36:30 PM

Never mind--there's a place later you can specify your contributions.  That fixed it.