IsabellaG
Expert Alumni

Retirement tax questions

If you took a distribution from your IRA, you will receive a Form 1099-R, and you'll need to report it on your return. 

Otherwise, you should receive an annual statement from the IRA custodian that will give you information about your contributions and the value of the IRA. You may be able to deduct your contributions to a traditional IRA. You don't have to report if you made the correct amount of Roth IRA contributions, but  it's a good idea to enter them into TurboTax to compute any tax consequences, such as the Retirement Savings Credit.

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