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Level 2
June 6, 2019
Solved

If I have a Roth IRA is it included in the taxes? If yes how and where do I put it?

  • June 6, 2019
  • 4 replies
  • 5 views
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Best answer by Hal_Al

No, just having a Roth IRA is not reported on your tax return. Interest, dividends and other earnings (or losses) within an IRA are not reported on your tax return.

Putting money into your Roth is not reportable on your tax return, unless you are claiming the Retirement contribution savers credit. You should enter your Roth contributions, if you want TurboTax to track your basis; but nothing goes on your actual tax forms.

Withdrawals/distributions from a Roth IRA are reported on your tax return.

4 replies

DoninGA
Level 15
Level 15
June 6, 2019
Did you contribute to a Roth IRA in 2017?  Or did you have a withdrawal from the IRA?
Level 2
June 6, 2019
I did contribute into IRA for 2017 also, I did contribute for 2016 (but this was posted in January 2017 to catch up)
Hal_Al
Level 15
Hal_AlLevel 15Answer
Level 15
June 6, 2019

No, just having a Roth IRA is not reported on your tax return. Interest, dividends and other earnings (or losses) within an IRA are not reported on your tax return.

Putting money into your Roth is not reportable on your tax return, unless you are claiming the Retirement contribution savers credit. You should enter your Roth contributions, if you want TurboTax to track your basis; but nothing goes on your actual tax forms.

Withdrawals/distributions from a Roth IRA are reported on your tax return.

DoninGA
Level 15
Level 15
June 6, 2019

To enter a IRA contribution -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits 
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Retirement and Investments
  • On Traditional and Roth IRA Contributions, click the start or update button

Or enter ira contributions in the Search box located in the upper right of the program screen.  Click on Jump to ira contributions