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Do i have to report rothe contributory Ira if no contributions or withdrawls have been made during the year?

Also, second question: do i need to report on 1040, a ira roller which was completed in 2015 and was reported then... , also, have not contributed to this one, nor withdrawn.
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PaulaM
Employee Tax Expert

Do i have to report rothe contributory Ira if no contributions or withdrawls have been made during the year?

A Roth contribution does not need to be entered in TurboTax because there is no deduction, nor a line on the 1040 form because contributions are not deductible.

If you completed a rollover in 2015 and reported it in the 2015 tax year, then there would not be anything else to report in 2016.

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1 Reply
PaulaM
Employee Tax Expert

Do i have to report rothe contributory Ira if no contributions or withdrawls have been made during the year?

A Roth contribution does not need to be entered in TurboTax because there is no deduction, nor a line on the 1040 form because contributions are not deductible.

If you completed a rollover in 2015 and reported it in the 2015 tax year, then there would not be anything else to report in 2016.

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