I put money into Roth IRA for 2017 taxes, do I just add that to the total I already put in? Because I won't get the 5498 until may 2018?

[macuser_22 · Accepted solution]

Enter 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.

[beshoe25]

Thanks for the help

[PaulaM]

Do you mean for the basis tracking?

You don't have to enter your 2017 Roth contribution at all in TurboTax since there is no deduction for it or a line entry on your tax return. You can track your basis if you like in the Retirement section, but it is not required.