early distribution penalty and tax on earnings

[tax1111]

The taxpayer took distribution from roth IRA account. He is under 59.5 years old and the money has been in the roth ira accounts for over 5 years. 

The 1099R has empty box 2a and 2b is checked. box 7 code is J.

My understanding is that the earnings portion needs to be taxed as ordinary income and is subject to 10% penalty.

Am I right here?

If I am right, how can I figure out the amount of earnings based on 1099R?

The distribution is not a total distribution, so I guess I have to prorate the earnings based by total earnings of the roth IRA account when distribution was made times (distribution amount divided by total amount in the account when distribution was made) ? 

How can I get these information though? 

Thank you!

 

[jklcpa]

Pub 590 has a complete chapter on Roth IRAs, and you will use form 8606. I'd suggest you review both the pub and the form's instructions.

[Pacun]

If it is a Roth IRA older than 5, nothing is taxable I think.

[tax1111]

1 hour ago, jklcpa said:

Pub 590 has a complete chapter on Roth IRAs, and you will use form 8606. I'd suggest you review both the pub and the form's instructions.

Thanks as always, Judy!

[tax1111]

1 hour ago, Pacun said:

If it is a Roth IRA older than 5, nothing is taxable I think.

Thank you so much!

[Terry D EA]

On 4/15/2021 at 12:34 PM, Pacun said:

If it is a Roth IRA older than 5, nothing is taxable I think.

I think the early withdrawal penalty applies. Agree, no earnings or principal is taxable. OP said he was under 59 1/2

[Lion EA]

But, the penalty is 10% of the taxable distribution. There is no taxable distribution.