Roth IRA Code T

[Librarian]

Working on 1099R - Roth IRA Code T in Box 7. Owner died in 2015. Beneficiary took a distribution. Need help on how to process.

[arlo]

Roth IRA Code T

I have one of these myself. Picked up new client that had the same thing in 2014. I just followed the 2014 return. The
amount should show up on form 8606 Part III line 19. The person that did the 2014 return put the same number on line 22. That is what I am going to do for 2015.

[taxmom34]

code T is a Roth , exception applies. isn't Roth a nontaxable distribution? maybe the exception would be death?

[mactoolsix]

code T is a Roth , exception applies. isn't Roth a nontaxable distribution? maybe the exception would be death?

A code T 1099-R is reporting a distribution from a Roth IRA that is not subject to early withdrawal penalty but the financial institution issuing the 1099-R does not know if the 5-year holding period to make the distribution a qualified (and therefore entirely tax free) distribution has been met. If the 5-year holding period has not been met, any portion of the distribution that represents earnings will be taxable.

[Librarian]

Roth IRA Code T Problem resolved.

I have one of these myself. Picked up new client that had the same thing in 2014. I just followed the 2014 return. The
amount should show up on form 8606 Part III line 19. The person that did the 2014 return put the same number on line 22. That is what I am going to do for 2015.

Problem solved! The Roth IRA payer just admitted to sending the wrong code. Corrected 1099R with Code Q being sent. Thanks for your help.

[Librarian]

Roth IRA Code T Problem resolved.

A code T 1099-R is reporting a distribution from a Roth IRA that is not subject to early withdrawal penalty but the financial institution issuing the 1099-R does not know if the 5-year holding period to make the distribution a qualified (and therefore entirely tax free) distribution has been met. If the 5-year holding period has not been met, any portion of the distribution that represents earnings will be taxable.

Roth IRA payer made an error. Corrected Roth IRA with Code Q being sent to taxpayer. Thanks for your reply.

[TAXNJ]

1st

I have one of these myself. Picked up new client that had the same thing in 2014. I just followed the 2014 return. The
amount should show up on form 8606 Part III line 19. The person that did the 2014 return put the same number on line 22. That is what I am going to do for 2015.

Recommend 1st seeing Original Poster's latest response and see if your issue is the same