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June 1, 2020
Question

Started a Roth IRA in 2019. Contributed $5000, withdrew $3000 in 2019. 1099-R shows Tax code J. What do I need to do to avoid being overtaxed on the withdrawal? Thanks.

  • June 1, 2020
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1 reply

Critter
Employee
June 1, 2020

First in the IRA contribution section  you will enter the contribution ... then go back to the 1099-R section and indicate you had a return of contributions ... follow the screen instructions carefully.