D-39
Form 1099-R Roth IRA
The basis of property distributed from a Roth IRA is its fair market value (FMV) on the date of distribution, whether or not
the distribution is a qualied distribution.
You don’t include in your gross income qualied distributions or distributions that are a return of your regular contributions
from your Roth IRA(s).
Distributions from a Roth IRA are tax free and may be excluded from income if the following requirements are met:
• The distribution is made after the 5-year period beginning with the rst day of the rst taxable year for which a
contribu tion was made to a Roth IRA set up for the taxpayer’s benet, and
• The distribution is:
- Made on or after age 59½, or
- Made because the taxpayer was disabled, or
- Made to a beneciary or to an estate, or
- To pay certain qualied rst-time homebuyer amounts (up to a $10,000 lifetime limit)
Is the Distribution From Your Roth IRA a Qualied Distribution?
See the list of Roth IRA distribution codes on the following page that are in scope and Out of Scope for the VITA/TCE
programs.
