Roth IRA Distributions before 59 1/2

[lsasso]

I have a client who withdrew money for a Roth IRA before 59 1/2.  So much is considered taken from contributions, which is not taxable or penalized, so much is considered taken from conversations before the 5-year mark, which is not taxable but penalized, and so much is considered taken from earnings, which is taxable and penalized.  How to correctly enter this into the program? 

[Intuit_Kallana]

This article will give you instructions on how to enter 1099-Rs into the system depending on the codes reported.  If you need further assistance, please give us a call at ProConnect support.

https://accountants.intuit.com/support/en-us/help-article/retirement-benefits/common-questions-form-...