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New Member
posted Jun 6, 2019 5:40:13 AM

Do I need to enter all the information on my Roth IRA

0 3 404
1 Best answer
Employee Tax Expert
Jun 6, 2019 5:40:16 AM

Roth IRA information doesn't have to be entered at all. There is no deduction, nor line on your tax return for the contribution. Some like to track their basis in TurboTax, but it is not required.

You may want to visit the Retirement Savings Contribution Credit section to see if you qualify for a credit for your Roth savings.

  • In your open return, select My Account
  • Tools
  • Topic Search
  • Type 'retirement savings contributions credit' in the box, then select GO

3 Replies
Employee Tax Expert
Jun 6, 2019 5:40:16 AM

Roth IRA information doesn't have to be entered at all. There is no deduction, nor line on your tax return for the contribution. Some like to track their basis in TurboTax, but it is not required.

You may want to visit the Retirement Savings Contribution Credit section to see if you qualify for a credit for your Roth savings.

  • In your open return, select My Account
  • Tools
  • Topic Search
  • Type 'retirement savings contributions credit' in the box, then select GO

New Member
Jun 6, 2019 5:40:19 AM

Thank you! This was helpful!

Employee Tax Expert
Jun 6, 2019 5:40:21 AM

You are welcome!