Entering Roth distributions

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Refer to Form 1099-R, Form 5498, and Form 8606 instructions, and IRS Publications 590-A and 590-B for exact reporting requirements. In addition, IRS Notices 98-50 and 1998-39 I.R.B. provide additional information about Roth IRA distributions, contributions, and recharacterizations.

To enter a distribution from a Roth IRA, complete the following steps.

  1. Open Screen 1099R in the Retirement folder and enter the gross distribution in box 1. Generally, box 2a should be left blank.
  2. Mark the Taxable amount not determined checkbox in box 2b.
  3. Use code JT, or Q as appropriate in box 7. Do not mark the IRA/SEP/SIMPLE checkbox.
  4. Open Screen IRA in the Retirement folder and enter any current year contributions, basis information, and IRA values as necessary.

Notes

  • For distributions of excess Roth IRA contributions, report the gross distribution in box 1 and only the earnings in box 2a. Enter code 8 or P as appropriate in box 7. Enter X in the IRA/SEP/SIMPLE checkbox.
  • If the 1099 has distribution code T, mark the Contributions (or conversion) made 5 or more years ago field in Screen 1099R-3, if applicable.

Related topic: Individual retirement account FAQs (1040)

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