Just wondering, what should the below values be
Tell Us the Value of Your Traditional IRA
Enter the total value of all Joe's traditional IRA, SEP and Simple IRAs on Dec 31st, 2021. This information is sent by mail on form 5498. Do not include ROTH IRAs
Value of Joe's Traditional, SEP and Simple IRAs on Dec 31st, 2021: ________________
Outstanding Rollovers:________________
Outstanding Recharacterizations:__________________
Here are contents of my form 5498
Account Number xxx-xxxxxxxx
1.IRA contributions (other than amounts in boxes 2-4, 8-10, 13a and 14a)..........$7,000.00
5.Fair market value of account........................................................$0.00
7.IRA Type..............................................................................IRA
11.Required Minimum Distribution for 2022................................................
The very next screen asks:
Tell Us The Value of Joe's Roth IRA
| Enter the value of Joe's Roth IRAs on December 31, 2021 | | |
|
Note: Include any contributions made after December 31, 2021 that were designated for 2021
Roth IRA Value:
My Roth IRA value as per Dec 31st, 2021 statement is $21,264. Why would TurboTax want that? It is my contributions plus growth? My total contributions till Dec 31st, 2021 is $14,000
I am guessing, that question is not framed correctly
