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Level 1

By entering when we started our Roth IRA accounts will impact how much we will owe in taxes? We contribute $2K to 2 accounts each year and have for at least 10 years.

 
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Level 20

By entering when we started our Roth IRA accounts will impact how much we will owe in taxes? We contribute $2K to 2 accounts each year and have for at least 10 years.

Roth contributions are not deductible.

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

A Roth IRA contribution does not actually go on a tax return, but you should enter it anyway to:

1) Tell you if your income qualifies you for a contribution and warn you if it does not.
2) Check if your income exceeds the limit to contribute to a Roth.
3) Track your contribution year-to-year if you use TurboTax every year.
4) Add the Retirement Savers Credit if you qualify.