Hello!
I'm entering my 1099-R, and I made an early withdrawal of $4000, however my contributions are $15,324.
Can someone help me with exactly where to put this number?
Even after putting 15324.10 in box 5, the amount $4000 is still being taxed.. It has been 6 years my account has been open if it means anything.
Thankful for your advice.
If this is a withdrawal from a Roth IRA, you have to enter your Prior Year Roth Contributions. Withdrawals of Roth contributions are not taxed.
After you have entered your form 1099-R, TurboTax will take you back to the summary page titled Your 1099-R Entries.
On that page, click Continue and follow the TurboTax until you arrive at the page titled Enter Prior Year Roth IRA Contributions where you can enter the amount of your past contributions
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
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