67 years of age with Roth withdrawal in '16. Should total NET Roth Contributions before 2016 include the Conversion amount from Traditional IRA to a Roth in 1998.

jramsey · ‎June 6, 2019

I converted and paid taxes in '98, '99,'00 and '01. After that I made several non deductible contributions. Is it correct to total all of these to get the correct amount for NET Contributions prior to 2016? Or is this number even needed? I am 67 and only withdrew a small amount.

dmertz · ‎June 6, 2019

TurboTax asks separately about regular net contributions and net conversion contributions. However, you don't really need to enter this amount since your distribution is a qualified distribution. The only reason that you would need to know your net contributions and conversions now is if you had sufficient investment losses to be able to claim a miscellaneous deduction for unrecoverable contribution and conversion basis after completely distributing all of your assets from your Roth IRAs, which doesn't seem likely.

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67 years of age with Roth withdrawal in '16. Should total NET Roth Contributions before 2016 include the Conversion amount from Traditional IRA to a Roth in 1998.

Retirement tax questions