ROTH IRA Distribution

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  • taxjungle
    Member
    • Oct 2006
    • 71
    #1

    ROTH IRA Distribution

    Is there a "Checklist" available someplace that I could use to make sure I don't miss anything important regarding a client that received a $6500 Form 1099-R for a ROTH IRA distribution with Code J on it?

    This year is my first to receive one.

    Any direction would be appreciated. Thank you!
    Tags: None
    • Roland Slugg
      Senior Member
      • Aug 2006
      • 1860
      #2
      Code J means: Early distribution from a Roth IRA, no known exception (in most cases, under age 59½). Thus, if the amount distributed exceeds the amount originally invested, the excess is taxable.
      Roland Slugg
      "I do what I can."

        Comment

        • Gene V
          Senior Member
          • Jun 2005
          • 1057
          #3
          Pub. 590

          Are Distributions Taxable? PAGE 64

          Ordering Rules for Distributions PAGE 66

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