☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted May 31, 2019 11:19:58 PM

Can you provide guidance on how to direct both federal and state refunds to an existing roth IRA account within the e-file process?

0 1 871
1 Best answer
New Member
May 31, 2019 11:19:58 PM

Unfortunately, that is not an option.  Direct deposit is only available for bank accounts.

The federal government does offer its own Roth IRA, and you can have your tax refund deposited into that account.  Please follow this link for more information.  https://myra.gov/how-it-works/?utm_expid=112154954-8.Qeme6cUVRgqW2nMIKAUdmw.0&utm_referrer=https%3A%...

Presumably, you could have your refund deposited into this government account and later roll the account over into your existing Roth IRA.

1 Replies
New Member
May 31, 2019 11:19:58 PM

Unfortunately, that is not an option.  Direct deposit is only available for bank accounts.

The federal government does offer its own Roth IRA, and you can have your tax refund deposited into that account.  Please follow this link for more information.  https://myra.gov/how-it-works/?utm_expid=112154954-8.Qeme6cUVRgqW2nMIKAUdmw.0&utm_referrer=https%3A%...

Presumably, you could have your refund deposited into this government account and later roll the account over into your existing Roth IRA.