Roth Withdraw Question

[RetireBy90]

Quick question, if (or when) you withdraw from a Roth do you still get numbers on your 1099R or since non taxable transaction is it like moving money from your cash account ?


Thanks in advance

 

[Rianne]

Good question, I'll wait for the expert response.

 

[Alan]

Quick question, if (or when) you withdraw from a Roth do you still get numbers on your 1099R or since non taxable transaction is it like moving money from your cash account ?


Thanks in advance

When I have done this I received a 1099-R with code Q in box 7 (Qualified distribution from a Roth IRA)

All box 7 codes are given in the IRS instructions on the 1099-R

https://www.irs.gov/pub/irs-pdf/i1099r.pdf

When entering the 1099-R details into tax software the total is shown on the 1040 on line 4a but the taxable amount carried forward to line 4b is zero

 

[RetireBy90]

Thanks !!

 

[Koolau]

Heh, heh, I just hand my pile of stuff from my Roth custodian to my tax gal. YMMV