I contributed $5,400 to my Roth IRA - all with after-tax funds. Do I need to report this amount on my tax return if it was contributed with after-tax funds?

jcspellman · ‎June 6, 2019

I entered this amount in TurboTax and am being told I owe a penalty because my MAGI is too high, but I'm wondering if this is applicable because all of the contributions were made with after-tax funds.

MinhT · ‎June 6, 2019

Your contribution to a Roth IRA may be reduced or phased out by your MAGI.

Please read this IRS document for more information:

https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that...

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I contributed $5,400 to my Roth IRA - all with after-tax funds. Do I need to report this amount on my tax return if it was contributed with after-tax funds?

I contributed $5,400 to my Roth IRA - all with after-tax funds. Do I need to report this amount on my tax return if it was contributed with after-tax funds?

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