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Level 4
posted Oct 17, 2022 10:49:39 PM

In TT Desktop Business, how do I enter a Roth distribution? 1099R?

In TT Desktop Business, how do I report a Roth distribution, form 1099-R?
This is for an estate or trust return, form 1041.


To be clear to those answering: this is NOT a TAX question.  It's a TURBOTAX BUSINESS question.  TT Business does NOT APPEAR TO HAVE the appropriate form, unlike TurboTax Deluxe.

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2 Replies
Level 15
Oct 17, 2022 10:54:04 PM

Is this for an Estate or Trust?  You might have to enter it using the Forms mode.  @dmertz ? 

Level 15
Oct 18, 2022 4:18:56 AM

If the Roth IRA distribution is nontaxable, it does not get entered.

 

If the distribution is not a qualified distribution because the distribution was not a qualified distribution with respect to the 5-year holding period, figure the taxable amount on Form 8606 Part III and, if nonzero, enter the resulting taxable amount as Other Income.  Do not include the Form 8606 itself in the filing.

 

If taxes were mistakenly withheld, enter the withholding as Other Tax Withholdings.