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dbalongue
New Member

Why would any of my Roth IRA distributions would be taxable. All contributions were made prior to 2007 at which time I retired and have no contributions since.

Part of my 2021 distribution is a code Q and part a code T, which I understand taxable.
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2 Replies
DaveF1006
Employee Tax Expert

Why would any of my Roth IRA distributions would be taxable. All contributions were made prior to 2007 at which time I retired and have no contributions since.

This should not be taxable, at least not with Code Q.  Also if you are over 59 1/2, Code T shouldn't apply also because you wouldn't need an exception to avoid the early withdrawal penalty.  Also you have met the five-year holding period.

 

Make sure on the 1099R(R's),you have checked the box that says the IRA/Sep/Simple box is checked on my copy of the 1099R. Also go to tax tools>tools>view tax summary>preview my 1040. Look on the 1040 to see if there are amounts listed on line 4B that reflect your Roth distributions?

 

 

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dmertz
Level 15

Why would any of my Roth IRA distributions would be taxable. All contributions were made prior to 2007 at which time I retired and have no contributions since.

Click the Continue button on the page that lists the Forms 1099-R that you have entered and answer Yes to the question that asks if you had a Roth IRA prior to 2017.  Doing so will cause TurboTax to treat a code-T Form 1099-R for a distribution from your Roth IRAs the same as a code-Q Form 1099-R, non-taxable.

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