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jabeeler
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Do I have to report Roth IRA and Roth 401(k) contributions?

 
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MinhT
Expert Alumni

Do I have to report Roth IRA and Roth 401(k) contributions?

You do not report your Roth IRA and Roth 401 (k) contributions on your tax return as they are not deductible.

But keep track of these contributions over the years. If you have to make an early withdrawal from your Roth accounts, the contributions are not taxable or subject to early withdrawal penalty.

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5 Replies
MinhT
Expert Alumni

Do I have to report Roth IRA and Roth 401(k) contributions?

You do not report your Roth IRA and Roth 401 (k) contributions on your tax return as they are not deductible.

But keep track of these contributions over the years. If you have to make an early withdrawal from your Roth accounts, the contributions are not taxable or subject to early withdrawal penalty.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
jabeeler
New Member

Do I have to report Roth IRA and Roth 401(k) contributions?

Thank you very much!

Do I have to report Roth IRA and Roth 401(k) contributions?

If I have a Solo Roth 401K and an Roth IRA and Income from business is 8,000. I have savings outside retirement accounts from previous years of working. My question is can contribute 8,000 to my solo 401K and then 5,500 to my IRA or does solo 401k contributions affect IRA limits? Meaning if I contribute 5,500 to Roth IRA, I can only contribute 2,500 to solo Roth 401K?

Do I have to report Roth IRA and Roth 401(k) contributions?

But a Roth contribution can perhaps qualify you for the Retirement Savings Credit, so report it anyway.

Do I have to report Roth IRA and Roth 401(k) contributions?

Talking more from a legality standpoint vs should I report or not.
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