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New Member
posted Mar 27, 2020 12:09:09 PM

After entering "Prior Year Roth IRA Contributions" it still says I owe taxes. I did total contrib. prior to 2019 minus total withdrawal amount. I shouldn't owe. ??

I withdrew less than total amount contributed, and withdrew after 5 years of having account. What am I missing?

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1 Replies
Expert Alumni
Mar 27, 2020 12:30:44 PM

Please ensure that you entered in the field "Prior Year Roth IRA Contributions" your contributions before 2019 minus withdrawals before 2019.

 

You can preview if the taxable part is correct on Form 1040 4b:

 

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left