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Do I get tax forms for my Roth IRA?

 
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1 Best answer

Accepted Solutions

Do I get tax forms for my Roth IRA?

Yes, if you took money out of the Roth (a distribution).  That is reported on a 1099-R.

If you put money into the Roth then it would be reported on a 5498 that is usually sent in May but does not go on your tax return.

Enter Roth 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.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

3 Replies

Do I get tax forms for my Roth IRA?

Yes, if you took money out of the Roth (a distribution).  That is reported on a 1099-R.

If you put money into the Roth then it would be reported on a 5498 that is usually sent in May but does not go on your tax return.

Enter Roth 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.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
shastamae
New Member

Do I get tax forms for my Roth IRA?

so does this mean i don’t have to report it and can put 0 when it asks? i did not withdraw ive just contributed

AbrahamT
Employee Tax Expert

Do I get tax forms for my Roth IRA?

That is correct. Once again, if you would have had a distribution from the Roth IRA, you would have received a 1099R for this amount and would indicate it as such.

 

 

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