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hgreen1036
New Member

If I took no distribution from a Roth IRA do I have to enter it on my income tax

If I took no distribution from a Roth IRA do I have to enter it on my income tax"
I made monthly contributions but took nothing out.
I am 74 years old.
Thanks
1 Best answer

Accepted Solutions
BobinCT
Level 7

If I took no distribution from a Roth IRA do I have to enter it on my income tax

No, you don't need to show it anywhere. But if your income is less than $46,500 (single) or $62000 (married) you may be eligible for a retirement savings credit, so it is worth entering the contributions into Turbotax to let it figure it out.

Do remember that your contributions must not exceed your earned income.

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1 Reply
BobinCT
Level 7

If I took no distribution from a Roth IRA do I have to enter it on my income tax

No, you don't need to show it anywhere. But if your income is less than $46,500 (single) or $62000 (married) you may be eligible for a retirement savings credit, so it is worth entering the contributions into Turbotax to let it figure it out.

Do remember that your contributions must not exceed your earned income.

View solution in original post

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