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Level 2
February 21, 2025
Question

Enter Prior Year Roth IRA Contributions" not applicable?

  • February 21, 2025
  • 1 reply
  • 12 views

i have a 1099-R that is annuitized and I am receiving monthly payments.  The amounts being send to me are RMD.           Why do I have to answer this question:   Enter Prior Year Roth IRA Contributions"

i have not contributed to it for many years until I turned 70-1/2 and started receiving rmd payments.   Thankyou.  This is confusing.  i am on turbo tax deluxe

    1 reply

    Level 15
    February 21, 2025

    Is this from a traditional IRA? What is the code in box 7? Is the the IRA/SEP/SIMPLE box checked?

     

    Please double check the Form 1099-R and your entries in TurboTax.

     

    1. Click on "Search" on the top right and type “1099-R”  
    2. Click on “Jump to 1099-R”
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    LEWCOMEAuthor
    Level 2
    February 23, 2025

    Thankyou.   It has 7  in the code in the box.  and ira simple box is checked.    it is a qualified rmd