Can I get help with reporting the principal ditribution from a Roth IRA that should be non-taxable. However the individual is under 591/2 and ditribution code on the 1099R was "J"
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
"reporting the principal ditribution"
There is no such thing as Principal. Perhaps what you are trying to do is show, per the ordering rules in a Roth, that this taking is Contributions? Have you filled in the 1099-R worksheet to show there is basis (their contributions), and are you sure they are not taking more than this?
You need to input the ROTH basis, should be a button on the 1099R worksheet for that....scroll down near the bottom of page 1
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.