You don't have to report your contribution to a Roth IRA; however, you may want to input it into TurboTax so you can track your basis. In order to avoid paying taxes on the earnings, it’s necessary to leave
your contributions in your Roth IRA for at least five years.
To enter a Roth IRA contribution go to:
- Federal Taxes
- Deductions & Credits
- Scroll down to "Retirement and Investments"
Select "Traditional and Roth IRA Contributions"
- Continue with the interview to enter your Roth IRA contribution
