- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
To enter your Roth IRA contributions into TurboTax follow these steps:
- Select Search at the top right of your screen,
- Enter Roth IRA contributions,
- Select Jump to Roth IRA Contributions,
- Select Roth IRA,
- Select Continue,
- Select No to the Repayment Question,
- Enter your Roth IRA Contributions,
- Respond No to the question Switching Roth to a Traditional,
- Answer Yes to the Let Us keep track of your IRA basis,
- Answer the Withdrawal Question,
- Enter your prior year Contributions (if any),
- Answer the question about IRA / Roth Conversions,
- Answer the question about Excess Roth Contributions for prior years,
- Enter the value of your Roth IRA at the beginning of the year,
- On this screen, TurboTax tells you that your Roth Contribution was to high,
- Select Continue,
- On this screen it tells you what your penalty is, and your options.
Your screen will look like this:
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎January 23, 2020
2:41 PM