I can't tell if I'm missing a form, or not seeing where to enter this information in TurboTax.
In 2019 I rolled over a Roth 401k to a Roth IRA, (both Vanguard accounts). I immediately did an early withdrawal from the Roth IRA -- this was the motivation for the rollover.
I recieved in 1099-R from Vanguard, for the early distribution. My 1099-R has "Taxable amount not determined" checked, and box 5 (employee contributions) is blank.
About half of the money withdrawn was my contributions to the Roth 401k, thus I expected an early withdrawal penalty on half the amount.
TurboTax doesn't think any of my withdrawal is from my contributions and is showing me a gigantic tax liability, I assume from both the early withdrawal penalty, and the entire amount being considered income.
There is a field in EasyStep that asks me to enter "prior year Roth IRA contributions", but since I rolled over the same year, and my contributions were to the 401k, I am unsure whether to enter my contributions here.
Any advice on how I should go about fixing this?
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Answering my own question, hope it helps someone. In this case, Vanguard had two additional 1099-Rs for the rollover, which for whatever reason were not available for download in TurboTax. After entering this manually, my tax liability went back to normal.
Yes, you enter them there. When you roll a designated Roth to a Roth IRA your prior contributions (basis), transfer to the Roth IRA are are treated as if they were Roth IRA contributions.
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