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jimcapecharlesva

Solved

I am 62 and took a $10 K Roth IRA distribution in 2024. I've had the Roth for 20+ YEARS. Shouldn't that be federal tax free? Turbo is saying otherwise.

Forum|Forum|1 year ago
January 20, 2025
2 replies
0 views

No text available

Best answer by dmertz

Presumably your Form 1099-R has code T. You must click the Continue button on the page that lists the Forms 1099-R that you have entered and, when 2024 TurboTax asks, indicate that you had a Roth IRA prior to 2020.

Employee

delete the 1099-R and re-enter, making sure TurboTax has the information you are posting here.

@jimcapecharlesva

Did you answer the followup questons?

Yes, it should be tax free. It's important to answer all the questions correctly so that TurboTax knows it should be tax free and without penalty.

Open your TurboTax return
Search (upper right) > Type 1099r > Select the Jump to ... link > Edit your 1099-R for your Roth IRA.
Next check you have the correct date of birth in the My Personal Info section
- If you land on the page 'My 2024 Tax Return' select the down arrow beside 'About Me', or 'Income' to check or edit each area.

Please update with details if you need help.

@jimcapecharlesva

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

dmertzAnswer

Employee

Presumably your Form 1099-R has code T. You must click the Continue button on the page that lists the Forms 1099-R that you have entered and, when 2024 TurboTax asks, indicate that you had a Roth IRA prior to 2020.