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rmd 2024 roth contribution what is that

What do I do with a 1099-r, distribution code B? And what do I do with 2a, taxable amount $8.20. thank you

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1 Reply
dmertz
Level 15

rmd 2024 roth contribution what is that

Code B indicates a distribution from a designated Roth account in an employer plan like a 401(k).  When the Form 1099-R is entered into TurboTax, TurboTax will include on Form 1040 line 5a the amount from box 1 and, if not rolled over to another Roth account, will include on line 5b the taxable amount from box 2a.  If box 7 includes code 1 in addition to the code 8, TurboTax will include the 10% early-distribution penalty ($1 penalty on the $8.20 taxable amount that results if not rolled over) on Form 5329 Part I.

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