Skip to main content
March 5, 2024
Question

How to report a Qualified Distribution from ROTH IRA in Puerto Rico

  • March 5, 2024
  • 1 reply
  • 0 views

I live in the US and received form 480.6D for a qualified distribution from a Puerto Rico ROTH IRA. Where do I enter this information on turbo tax?

    1 reply

    March 12, 2024

    I believe what you mean is you took a qualified, or non-taxable, distribution from your ROTH IRA. If so, you would enter that as a substitute Form 1099-R in TurboTax. 

     

    To enter a substitute form 1099-R in Turbo Tax follow these instructions:

     

    1. Find the Retirement Plans and Social Security menu option
    2. Start or Update IRA, 401(k), Pension Plan Withdrawals (1099-R)
    3. Choose Add Another 1099-R
    4. Choose I'll type it in myself
    5. On the screen that says Tell Us Which 1099-R You Have choose I need to prepare a Substitute 1099-R

    Enter the distribution amount in box 1 of the Form 1099-R and enter code "Q" in box 7. Also, check the IRA/SEP/Simple box below the line 7 entry.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"