I contributed $18500 to a Roth cumulatively before 2014, plus did some taxable conversions in 2012 through 2014. I withdrew $35,000 in 2017 and $30,000 in 2019 from the Roth. So when TT asks for Roth IRA Contributions prior to 2019 (and TT automatically put in $18500), what is the correct answer? Zero, because by definition all of the contributions are gone and only the conversions are left?
Your $35,000 distribution in 2017 reduced your Roth IRA contribution basis to $0. With everything entered properly into 2017 TurboTax, TurboTax would have carried forward $0 of contribution basis to 2018 and from there to 2019 to appear as $0 Roth IRA contribution basis in 2019 TurboTax, not the $18,500 that presently appears in 2019 TurboTax.
Your $35,000 distribution in 2017 also reduced your Roth conversion basis by $16,500 (assuming that you had that much conversion basis in 2017), reducing the oldest contribution basis first. If you were under age 59½ at the time of the distribution in 2017 and your Roth conversions in 2012 were less than $16,500, some portion of that $35,000 distribution would also have been subject to a recapture of the 10% early-distribution penalty. As of 2019, though, all of your conversions had met the 5-year conversion holding period, so any of the $30,000 distribution in 2019 that was from your conversion basis, perhaps all of it, is tax- and penalty-free (or all tax- and penalty-free if you were over age 59½ at the time of the distribution).
Your $35,000 distribution in 2017 reduced your Roth IRA contribution basis to $0. With everything entered properly into 2017 TurboTax, TurboTax would have carried forward $0 of contribution basis to 2018 and from there to 2019 to appear as $0 Roth IRA contribution basis in 2019 TurboTax, not the $18,500 that presently appears in 2019 TurboTax.
Your $35,000 distribution in 2017 also reduced your Roth conversion basis by $16,500 (assuming that you had that much conversion basis in 2017), reducing the oldest contribution basis first. If you were under age 59½ at the time of the distribution in 2017 and your Roth conversions in 2012 were less than $16,500, some portion of that $35,000 distribution would also have been subject to a recapture of the 10% early-distribution penalty. As of 2019, though, all of your conversions had met the 5-year conversion holding period, so any of the $30,000 distribution in 2019 that was from your conversion basis, perhaps all of it, is tax- and penalty-free (or all tax- and penalty-free if you were over age 59½ at the time of the distribution).
Thanks. A couple of clarifications: The first Roth contribution was in 2010 so well past the five-year mark. And I'm 75 now so no early withdrawal penalties. And yes, it is entirely possible/likely I entered the wrong numbers into TT before, but I'm pretty sure I haven't run afoul of the tax rules. So it looks like I should put zero for the contributions minus withdrawals. Then the net of conversions minus recharactsrizations (TT had this right). Again, thanks for the help.