Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
ebonyprl
New Member

Roth IRA

for some reason Turbo is including Roth IRA withdrawal as income that is causing my income to be too high and causing other problems with my taxes preparation.   Please help correct this. 

1 Reply
dmertz
Level 15

Roth IRA

Assuming that this is a regular distribution, did you click the Continue button on the Your 1099-R Entries page and tell TurboTax your basis in Roth IRA contributions and Roth conversions?  Nonqualified distributions are taxable as income to the extent that they exceed the amount of your basis and the taxable amount is calculated on Form 8606 Part III, prepared by TurboTax using these inputs.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~