topic My son made an excess Roth IRA contribution in 2015, which was withdrawn in 2017 . He got a 1099-R with J on box 7. How do I report this in TurboTax? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/my-son-made-an-excess-roth-ira-contribution-in-2015-which-was-withdrawn-in-2017-he-got-a-1099-r-with/01/725885#M69541 Thu, 06 Jun 2019 15:35:24 GMT cdee888 2019-06-06T15:35:24Z My son made an excess Roth IRA contribution in 2015, which was withdrawn in 2017 . He got a 1099-R with J on box 7. How do I report this in TurboTax? https://ttlc.intuit.com/community/retirement/discussion/my-son-made-an-excess-roth-ira-contribution-in-2015-which-was-withdrawn-in-2017-he-got-a-1099-r-with/01/725885#M69541 Thu, 06 Jun 2019 15:35:24 GMT https://ttlc.intuit.com/community/retirement/discussion/my-son-made-an-excess-roth-ira-contribution-in-2015-which-was-withdrawn-in-2017-he-got-a-1099-r-with/01/725885#M69541 cdee888 2019-06-06T15:35:24Z You will follow these steps to enter your Son's Form 1099... https://ttlc.intuit.com/community/retirement/discussion/you-will-follow-these-steps-to-enter-your-son-s-form-1099/01/725892#M69543 <P>You will follow these steps to enter your Son's <B>Form 1099-R</B> with <I>Code J&nbsp;</I>to report the withdrawal from his Roth IRA:</P><P>Once in the return, follow these steps:</P><UL> <LI>Click on the "Federal Taxes" tab</LI> <LI>Click "I'll Choose What I Work On"</LI> <LI>Scroll down to "Retirement Plans &amp; Social Security"</LI> <LI>Select "Start/Update" next to "IRA, 401(K), Pension Plan Withdrawals,&nbsp;<B>1099-R</B> </LI> <LI>Enter the <B>1099-R</B> exactly as shown</LI> <LI>Click "Continue" to walk through and answer the interview questions associated with that&nbsp;<B>1099-R</B> </LI> <LI>Once you walk through those questions, you will be brought to a summary page of your <B>1099-Rs</B>.&nbsp; Click "Continue" at the bottom right which will lead you through some more interview questions.&nbsp; About the third question starts asking questions about the <I>Roth IRA </I>which you will need to pay particular attention to.</LI> <LI>Regarding this question:<SPAN>&nbsp;<U>Prior Year Contributions that REMAIN in Roth IRA?</U>&nbsp;</SPAN>&nbsp;The amount to enter here is the amount of contributions that remained in your Roth IRA leading into 2017.&nbsp; You *should not* reduce that amount by the distribution that you made in 2017.<BR /> </LI> </UL><P>If you need further assistance getting your<B> ROTH</B> distribution reported properly, please comment below so that I can assist you further.</P> Thu, 06 Jun 2019 15:35:26 GMT https://ttlc.intuit.com/community/retirement/discussion/you-will-follow-these-steps-to-enter-your-son-s-form-1099/01/725892#M69543 Rachel_W 2019-06-06T15:35:26Z
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topic My son made an excess Roth IRA contribution in 2015, which was withdrawn in 2017 . He got a 1099-R with J on box 7. How do I report this in TurboTax? in Retirement tax questions
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https://ttlc.intuit.com/community/retirement/discussion/my-son-made-an-excess-roth-ira-contribution-in-2015-which-was-withdrawn-in-2017-he-got-a-1099-r-with/01/725885#M69541
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My son made an excess Roth IRA contribution in 2015, which was withdrawn in 2017 . He got a 1099-R with J on box 7. How do I report this in TurboTax?
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https://ttlc.intuit.com/community/retirement/discussion/my-son-made-an-excess-roth-ira-contribution-in-2015-which-was-withdrawn-in-2017-he-got-a-1099-r-with/01/725885#M69541
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You will follow these steps to enter your Son's Form 1099...
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<P>You will follow these steps to enter your Son's <B>Form 1099-R</B> with <I>Code J&nbsp;</I>to report the withdrawal from his Roth IRA:</P><P>Once in the return, follow these steps:</P><UL> <LI>Click on the "Federal Taxes" tab</LI> <LI>Click "I'll Choose What I Work On"</LI> <LI>Scroll down to "Retirement Plans &amp; Social Security"</LI> <LI>Select "Start/Update" next to "IRA, 401(K), Pension Plan Withdrawals,&nbsp;<B>1099-R</B> </LI> <LI>Enter the <B>1099-R</B> exactly as shown</LI> <LI>Click "Continue" to walk through and answer the interview questions associated with that&nbsp;<B>1099-R</B> </LI> <LI>Once you walk through those questions, you will be brought to a summary page of your <B>1099-Rs</B>.&nbsp; Click "Continue" at the bottom right which will lead you through some more interview questions.&nbsp; About the third question starts asking questions about the <I>Roth IRA </I>which you will need to pay particular attention to.</LI> <LI>Regarding this question:<SPAN>&nbsp;<U>Prior Year Contributions that REMAIN in Roth IRA?</U>&nbsp;</SPAN>&nbsp;The amount to enter here is the amount of contributions that remained in your Roth IRA leading into 2017.&nbsp; You *should not* reduce that amount by the distribution that you made in 2017.<BR /> </LI> </UL><P>If you need further assistance getting your<B> ROTH</B> distribution reported properly, please comment below so that I can assist you further.</P>
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