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How to Report Roth IRA Income

By Business & Finance Last updated Friday, July/12/2024

1). Gather your 1099-R forms from all of your Roth IRAs. Your financial institution should send you a copy of this form each year that you have received distributions from your Roth IRA.
2). Add the values from Box 1 of the 1099-R forms. This is the amount of money that you withdrew from the Roth IRA. For example if you withdrew $1,000 from one Roth IRA and $2,000 from another your total would be $3,000.
3). Write the total of your Roth IRA distributions on Line 15a of your form 1040 tax return. If you have any other taxable traditional IRA distributions you will have to include those as well on Line 15a.
4). Add the values from Box 2 of the 1099-R forms. This is the amount of the withdrawal from the Roth IRA that is taxable. In most cases, this amount will be zero so you can write $0 on Line 15b unless you have other taxable IRA distributions during the same year.

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