Dave T Posted February 17, 2023 Report Share Posted February 17, 2023 T/P and wife are both 54. They liquidated their Roth in 2022. They began making contributions in 2015 and continued to do so part way into 2022 before liquidating. Obviously under 59 1/2 but am wondering about the 5 year rule. Are the entire proceeds, less basis, subject to tax and penalty? Not sure if it is relevant but they received four separate 1099R's in various amounts all coded J, early distribution of Roth IRA, no known exceptions. Thanks for assistance with this. Dave T Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 17, 2023 Report Share Posted February 17, 2023 https://www.irs.gov/taxtopics/tc557 1 Quote Link to comment Share on other sites More sharing options...
Max W Posted February 17, 2023 Report Share Posted February 17, 2023 See part III of form 8606 for non-qualified Roth distributions. Quote Link to comment Share on other sites More sharing options...
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