1099-R BOX 7 SHOWS 1B DESIGNATED ROTH CONT

Forum|Forum|3 years ago
January 17, 2023
1 reply
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Hi, 1099R shows box 1 4,995..and nothing in box 2...box 5 shows 4,995 designated roth contributions...and in Box 7 it shows 1B early withdrawal from roth. so in the tax summary of income should it be included in his gross income.. or should it not show up in gross income? I was afraid of not typing anything on box 2a of the 1099r.. i know sometimes that's a tricky box. If an amount is not in there i believe we have to manually put in the taxable amount right?

ProSeries Professional

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Best answer by TaxGuyBill

@10409000 wrote:

box 5 shows 4,995 designated roth contributions..

That means there is AT LEAST $4995 in Basis. That means the $4995 is not taxable.

I don't remember if Box 5 automatically triggers the program to make it non-taxable, or if you need to scroll down on the 1099-R worksheet and enter the Basis on by hitting the "Quickzoom" for the Basis.

T

TaxGuyBillAnswer

Level 15

@10409000 wrote:

box 5 shows 4,995 designated roth contributions..

That means there is AT LEAST $4995 in Basis. That means the $4995 is not taxable.

I don't remember if Box 5 automatically triggers the program to make it non-taxable, or if you need to scroll down on the 1099-R worksheet and enter the Basis on by hitting the "Quickzoom" for the Basis.