Hi, I have a question about a roth ira withdrawal that we made. The amounts we withdrew were both contributions we had originally made.

bernitt3 — Thu, 06 Jun 2019 10:34:32 GMT

so it is not supposed to be taxed since it was originally a contribution. when I put into the software there is no 'box' that deals with this specific example. Help?

You can always withdraw your own Roth contributions tax a...

macuser_22 — Thu, 06 Jun 2019 10:34:34 GMT

You can always withdraw your own Roth contributions tax and penalty free.

Enter a 1099-R here:

Federal Taxes,
Wages & Income
I’ll choose what I work on (if that screen comes up),
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

One of the followup questions will ask for your prior year contributions not previously withdrawn. Those contributions that still remain in the Roth will not be taxed or subject to a early withdrawal penalty.

thank you very much.

bernitt3 — Thu, 06 Jun 2019 10:34:35 GMT

thank you very much.

topic Hi, I have a question about a roth ira withdrawal that we made. The amounts we withdrew were both contributions we had originally made. in Retirement tax questions

Hi, I have a question about a roth ira withdrawal that we made. The amounts we withdrew were both contributions we had originally made.

You can always withdraw your own Roth contributions tax a...

thank you very much.