Skip to main content
TurboTax
Community
TurboTax
TurboTax
tvnalln
Level 2
March 19, 2022
Question

Can someone explain the IRA contributions more clearly?

If I contributed $4K to a Roth 15 years ago, withdrew $5K 5 years ago and then took out the remaining earned balance in 2021 closing the account, what am I supposed to enter as IRA contributions prior to 2021?

4 replies

Employee Tax Expert
DanaB27Employee Tax Expert
Employee Tax Expert
March 19, 2022

You will enter $0 as net contributions because you withdrew the $4,000 contribution when you made the $5,000 withdrawal 5 years ago.

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top and type “1099-R”
  3. Click on “Jump to 1099-R” and enter all your 1099-Rs
  4. Click "Continue" on the "Review your 1099-R info" screen
  5. Answer all the questions and make sure you enter $0 for net contributions prior to 2021 on the "Enter Prior Year Roth IRA Contributions" screen
  6. Answer the remaining question.
**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
    tvnallnAuthor
    Level 2
    March 19, 2022

    Thanks!

    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Explore your options
    Terms & ConditionsAccessibility statement
    Sitemap
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2026 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    About Cookies Manage cookies

    TRUSTe nResult Certified e-File C-Level Security Certification
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    © 2026 Intuit Canada ULC or its affiliated companies. All rights reserved. Intuit, QuickBooks, QB, TurboTax and ProFile are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

    Copyright © Intuit Canada ULC, 2026. All rights reserved.

    About Cookies Manage cookies

    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    © 2026, Entreprises Intuit Canada ULC ou ses sociétés affiliées. Tous droits réservés. Intuit, QuickBooks, QB, TurboImpôt et ProFile sont des marques déposées d’Intuit Inc. Les modalités, prix, fonctions et options de service et de soutien peuvent changer sans préavis.

    © 2026, Entreprises Intuit Canada ULC. Tous droits réservés.

    À propos des témoins Gérer les témoins