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Roth Distribution

Level 2

My client withdrew funds ($3,600) from a Roth IRA.  This was not a total distribution.  All of the funds received were a return of his own money.  No earnings in the total.

The 1099 shows code J.  Looking at the 1040, the distribution amount is showing as taxable.  Where/how do I report the non-taxable portion of the distribution? ($3,600)

There doesn't seem to be an area on the 8606 or at the bottom of the 1099 screen.


Labels (1)
0 Cheers
4 Replies 4
Level 11

You should be able to enter the total Roth IRA basis on the IRA Info Wks.

Level 15

Since you said "jokes" as in more than one, here is number two and this is just too much work so I think I will rest now.


Ole and Lars go ice fishin. Ole pulls out his new thermos and Lars says to him, "Ole, whatcha got der?".

Ole says, "Well Lars, dis here's a thermos. It keeps hot tings hot, and it keeps cold tings cold."

After awhile, Lars gets curious and says, "Vell Ole, whatcha got in dat der thermos?"

Ole says, "Vell Lars, I got a popsicle, and two cups a coffee."


ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
Level 2

Thank you.  One more thing I forgot....My client withdrew the funds inside the 5-year holding period.  This being the case, is the entire withdrawal taxable?

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Level 2

You can put in and take it out.  Only the earnings would be taxed.  A bit like family planning.