You will get a 1099R. It should have arrived by now. The 1099R shows the distribution amount and the taxable amount in boxes 1 and 2a. Enter the 1099R details in your tax software. It will show up on 1040 line 5 (5a and 5b). Simple.
A couple more questions about your Roth IRA withdrawal, which you used to pay taxes. Are you older than 59.5? Have you had the Roth IRA open for more than 5 years? Are your total contributions to the Roth greater than $22,000?
You will get a 1099R for this too. It will hopefully say box 2a is zero. But box 2b may say taxable amount not determined. In that case the answers to my questions will matter.
A couple more questions about your Roth IRA withdrawal, which you used to pay taxes. Are you older than 59.5? Have you had the Roth IRA open for more than 5 years? Are your total contributions to the Roth greater than $22,000?
You will get a 1099R for this too. It will hopefully say box 2a is zero. But box 2b may say taxable amount not determined. In that case the answers to my questions will matter.
Statistics: Posted by EHEngineer — Mon Feb 10, 2025 11:01 pm — Replies 1 — Views 130