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Achatcat
Returning Member

Should 2018 Turbo Tax be reporting entire distribution under 1099R and taxing it?

We took two small distributions from our respective Roth IRAs in 2018, category Q. Roth IRAs were established ten+ years.  We are both well over 59.5 age.  We took large distributions in '15, entire amount was non-taxable per 2015 TT?  


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Should 2018 Turbo Tax be reporting entire distribution under 1099R and taxing it?

A code Q is always not taxable.

It will show as income on the summary screen which shows gross income, not taxable income.

The IRS requires reporting all income on a *income* tax return - taxable and not-taxable.

The taxable amount will go on the 1040 line 4b. 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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3 Replies

Should 2018 Turbo Tax be reporting entire distribution under 1099R and taxing it?

Where do you see the tax?
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Achatcat
Returning Member

Should 2018 Turbo Tax be reporting entire distribution under 1099R and taxing it?

I went back in and checked more thoroughly.  It was excluded I just didn't see it as they've changed the 1040 form around since the last time I took a distribution.  Your answer was very helpful.  Thank you!!!

Should 2018 Turbo Tax be reporting entire distribution under 1099R and taxing it?

A code Q is always not taxable.

It will show as income on the summary screen which shows gross income, not taxable income.

The IRS requires reporting all income on a *income* tax return - taxable and not-taxable.

The taxable amount will go on the 1040 line 4b. 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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