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New Member
posted Jan 29, 2020 8:29:05 AM

I made a withdrawal from my Roth IRA last year I withdrew less than the amount I contributed, but it automatically deducted taxes when I entered it. Do I owe taxes?

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1 Replies
Expert Alumni
Jan 29, 2020 1:24:21 PM

It sounds like you need to enter your prior contribution to your Roth IRA in Turbo Tax:

  1. Search for IRA contributions using the search box located in the upper right corner .
  2. Click on the Jump to link.
  3. Check the box showing that you contributed to a Roth IRA.  
  4. The next screen asks you to verify that you contributed to a Roth IRA, choose Yes.
  5. If you didn't contribute to the account in 2019, just enter $0. 
  6. The next screen asks if the contribution was a repayment of a retirement distribution, choose No.
  7. Answer the remaining questions according to your situation. After a few more questions you will be asked about your contributions in the past.