Form 1099-R – Roth IRA Distribution
To report a Roth IRA distribution, begin by entering the data from your Form 1099-R (gross amount, taxable amount, Box 7 code). Then follow the instructions for Form 8606 to compute how much (if any) is taxable or subject to penalty. Finally, if the distribution incurs the 10% early-distribution penalty (or a recapture) and no exception applies, enter details for Form 5329.
See the IRS Instructions for Forms 1099-R and 5498 for details about what each distribution code means.
Online
Dashboards
- From within your TaxAct return, click Income.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Expand the Retirement & Social Security section.
- Click Add beside Distributions from IRA, 401(k), Pension Plan.
- Search for your financial provider or click Enter 1099 Manually at the bottom right.
- Complete the rest of the interview process for Form 1099-R.
- Click Income on the left again.
- Expand Retirement & Social Security.
- Click Add beside Nondeductible IRAs (Form 8606).
- Complete the remaining interview to finish adding your information.
- If you need to add info for Form 5329, click Taxes & Miscellaneous on the left.
- Expand Additional Tax Payments.
- Select Add beside Additional Taxes on Qualified Retirement Plans.
- Complete the interview process.
Classic Navigation
- From within your TaxAct return, click Federal.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Retirement Plan Income drop-down, then click IRA, 401(k), and pension plan distributions (Form 1099-R).
- Click + Add Form 1099-R to create a new copy of the form.
- Complete the rest of the interview process.
- Click Federal again.
- Click the Retirement Plan Income drop-down and choose [Taxpayer/Spouse Name] Nondeductible IRAs (Form 8606).
- Continue with the interview process to enter your information, including when you reach the screen with fields for the year in which you converted to a Roth IRA, then enter amounts from Form 8606 for the applicable year.
- If you need to add info for Form 5329, click Federal again.
- Click the Retirement Plan Income drop-down.
- Click [Taxpayer/Spouse Name] Additional taxes on qualified plans (Form 5329).
- Click Review on the Early distributions from a retirement plan row, then continue with the interview process to enter all the appropriate information.
Desktop
- From within your TaxAct return, click Federal.
- Click the Retirement Plan Income drop-down, then click IRA, 401(k), and pension plan distributions (Form 1099-R).
- Click + Add beside Form 1099-R to create a new copy of the form.
- Choose Quick Entry or Step-by-Step Guidance and follow the steps to enter your details.
- Click Federal again.
- Click the Retirement Plan Income drop-down and choose [Taxpayer/Spouse Name] Nondeductible IRAs (Form 8606).
- Continue with the interview process to enter your information, including when you reach the screen with fields for the year in which you converted to a Roth IRA, then enter amounts from Form 8606 for the applicable year.
- If you need to add info for Form 5329, click Federal again.
- Click the Retirement Plan Income drop-down.
- Click [Taxpayer/Spouse Name] Additional taxes on qualified plans (Form 5329).
- Click Review on the Early distributions from a retirement plan row, then continue with the interview process to enter all the appropriate information.