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Withdrawl of contributions from ROTH IRA

I withdrew the contributions that i made to my ROTH IRA. I received the 1099 that showed 0 for the taxable amount in box 2a. I understand that i have to file 8606 section 3 with the IRS. I don't understand where i have to mention the amount as contribution withdrawals. Any advice is appreciated.

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2 Replies

Withdrawl of contributions from ROTH IRA

you have to complete the interview to supply that information to TurboTax.

 

@spenumatsa 

dmertz
Level 15

Withdrawl of contributions from ROTH IRA

A Form 1099-R with code J or code T should have a blank box 2a.  Only a regular distribution reported with code Q in box 2a should have a zero in box 2a and, being a qualified distribution, is not reportable on Form 8606 at all.  Qualified distributions will appear only on line 4a of Form 1040.

 

If reported with code T and the distribution was made more than 5 years after the beginning of the year for which you first made a Roth IRA contribution, the distribution is again a qualified distribution and not reportable on Form 8606.

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