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Retirement tax questions
Let me see if I understand this correctly. I pulled a distribution out of Roth IRA last year before the age of 59. Therefore, this means I will be taxed on the interest and 10% penalty for distribution before the correct age. Turbo tax is asking for ‘Roth IRA Contributions prior to 2021’. So I need to collect all December statements from the year I opened the Roth IRA to 2020 and add up all contributions I ever made for the life of the IRA. This would be what I enter. Correct?
January 31, 2022
11:32 AM