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Retirement tax questions
That is for a traditional IRA contribution which IS deductible. A Roth contribution is not tax deductible. A Roth contribution is money that has already been taxed, and TurboTax says I owe tax on the 5,500 that I withdrew that I contributed in 2017. I am tempted to enter 11,000 in the question about prior contributions and hope I do not get audited. If I enter 11,000, I don't get taxed on my early distribution of 11,000, and I have two prior 5,500 contributions to support it.
‎June 4, 2019
1:28 PM