paul10
New Member

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.