Question

Which is correct on the form 1099-R on line 7 I have 2- Early distribution and B Designated Roth account Distribution. Tubro tax says it is incorrect, Which is correct?

Forum|Forum|6 years ago
April 3, 2020
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TurboTax Self Employed Online

Both are -- enter both codes on the entry screen. Enter code 2 in the first box and code B on the next, See screenshot, below.

D

dmertz

Employee

When TurboTax asks if this distribution was from a Roth IRA you must answer No. This is a trick question in TurboTax because code B means that the distribution is from a designated Roth account in a qualified retirement plan like a 401(k), not a distribution from a Roth IRA. Go back and edit this 1099-R, correcting the answer that you gave for this question.