Do Roth distributions go into 1040 filing?
Is there any requirement to declare your Roth distributions to the IRS. If so, how…? Is there a separate form for this that goes with your 1040 filing…? There seems no place to enter it into page 1 of the 1040, unless it should go into line 15a along with TIRA distributions, and then subtracted out at line 15b.
Thanks,
gerry
Permalink Submitted by Alan Spross on Wed, 2011-10-19 22:55
Gerry,
Once your Roth is qualified (5 years plus 59.5), all you do is show the distribution on line 15a of Form 1040, nothing on 15b.
Before your Roth is qualified, you need Form 8606 to report the distribution and the taxable amount transfers to line 15b. To complete the 8606 you must know your total amount of regular contributions and total amount of conversion contributions, and then the 8606 will determine if any portion of the distribution is taxable. That amount is what goes to 15b.