2868677
In past years I have filled out the TurboTax forms stating that I have a Roth IRA. This is always how it was described and what I thought I had. Now I find out what I have been contributing to was a Roth 401k (in addition to my 401k). In past years I have answered yes that I had a Roth IRA and entered the corresponding dollar amount. This was wrong, but is it something I need to have corrected? I went in to TurboTax 2021, deleted my Roth IRA info, and it did not change the refund amount.
You'll need to sign in or create an account to connect with an expert.
Roth IRA contributions are not tax deductible and are not reported on your tax return. TurboTax asks for your Roth IRA contributions only to determine whether you have over-contributed considered your level of income.
You do not have to amend your previous tax returns.
Good, thank you!
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
crowdaryn1006
New Member
mikesaparito
New Member
Nurseforeverlife
New Member
christalswope160
New Member
carloscanela29
New Member