Question

Contributed to Roth IRA for one month before leaving employer in 2019. Took funds out Jan. of 2020 (over 60) and received 1099-R. Turbo tax is asking Q's like it's 401k

Forum|Forum|5 years ago
February 18, 2021
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Turbo Tax is treating this like a distribution from 401k, when it was actually Roth.

TurboTax Self Employed Online

Employee

401(k) and Roth are not mutually exclusive. If there is a code B or code H in box 7 of the Form 1099-R (perhaps along with code 7), it's indeed reporting a distribution from a designated Roth account within the company's 401(k) or similar qualified retirement plan, not a distribution from a Roth IRA. If it was a distribution from a Roth IRA it would have code T or Q instead.