turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How do I find the contributions that I made to my Roth IRA? Do I just add up the deductions taken from each paycheck? Or do I just look at my total account value?

I have a percentage of paycheck automatically deducted and put straight into my Roth IRA. However, when I add up my total deductions, I am getting a different total than what my total account value states in my account summary. I assume that is due to fluctuations in market value but I just want to make sure I am reporting the correct amount.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
dmertz
Level 15

How do I find the contributions that I made to my Roth IRA? Do I just add up the deductions taken from each paycheck? Or do I just look at my total account value?

Are you sure that these are a contributions to a Roth IRA and not a contributions to a designated Roth account in a qualified retirement plan like a 401(k)?  401(k)s and similar plans are not IRAs.  If the contributions are shown in box 12 of your W-2, these are not Roth IRA contributions.  Any amounts shown in box 12 of your W-2 are to be entered only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

 

Certainly the account value will vary from the amount contributed due to investment gains or losses.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question