@Edmar777 wrote:
Hello, I have complicated question I hope I can get an answer to. I contributed $12k last year to a Roth IRA and did not distribute it to stock, bonds, or ETF's.
I did this year. It seems like a obvious when one but with taxes I'm weary. Should I put on my taxes that I contributed to my Roth IRA for 2020 even though I did not receive dividends, only $5?
Are you asking about a IRA held in a bank or financial institution in your name or an employer Roth which is NOT an IRA.
The most that can be contributed to an IRA in a year is $6,000 (or $7,000 if over age 50). Gains or losses in a IRA are not reported.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
