Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

1099-R coded J, early distribution because he turns 59 1/2 in 2019. Just the 10% penalty? asking if it is a QUALIFIED distribution...What would make it qualified?

Highlighted
Level 1
 
Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 12

Publication 590b:


What Are Qualified Distributions?

A qualified distribution is any payment or distribution from your Roth IRA that meets the following requirements.

  1. It is made after the 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit, and
  2. The payment or distribution is:
    1. Made on or after the date you reach age 59½,
    2. Made because you are disabled (defined earlier),
    3. Made to a beneficiary or to your estate after your death, or
    4. One that meets the requirements listed under First home under Exceptions in chapter 1 (up to a $10,000 lifetime limit).
https://www.irs.gov/publications/p590b#en_US_2018_publink1000231061

View solution in original post

0 Cheers
3 Replies 3
Highlighted
Level 12

Publication 590b:


What Are Qualified Distributions?

A qualified distribution is any payment or distribution from your Roth IRA that meets the following requirements.

  1. It is made after the 5-year period beginning with the first taxable year for which a contribution was made to a Roth IRA set up for your benefit, and
  2. The payment or distribution is:
    1. Made on or after the date you reach age 59½,
    2. Made because you are disabled (defined earlier),
    3. Made to a beneficiary or to your estate after your death, or
    4. One that meets the requirements listed under First home under Exceptions in chapter 1 (up to a $10,000 lifetime limit).
https://www.irs.gov/publications/p590b#en_US_2018_publink1000231061

View solution in original post

0 Cheers
Highlighted
Level 15
Level 15
Its probably got a pink error on the IRA worksheet somewhere wanting a box to be marked asking when the Roth was opened (or something to that effect), right?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
Highlighted
Level 1

What about a return of a ROTH contribution coded J. How do I get it to show as non-taxable?

0 Cheers