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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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marinoassc
Level 1
04-17-2023
11:19 AM
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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"
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qbteachmt
Level 15
04-17-2023
11:41 AM
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"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?
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Just-Lisa-Now-
Level 15
04-17-2023
11:41 AM
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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
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
