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Do I have to report every payment toward my IRA. I turned 66, and have started taking withdrawls.

 
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Accepted Solutions
Coleen3
Intuit Alumni

Do I have to report every payment toward my IRA. I turned 66, and have started taking withdrawls.

If you are making contributions or taking distributions, you must report it. If you are receiving from the IRA, you will get a 1099-R. You need to indicate the contributions to make sure that you are allowed to contribute. There are income requirements.

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4 Replies
Coleen3
Intuit Alumni

Do I have to report every payment toward my IRA. I turned 66, and have started taking withdrawls.

If you are making contributions or taking distributions, you must report it. If you are receiving from the IRA, you will get a 1099-R. You need to indicate the contributions to make sure that you are allowed to contribute. There are income requirements.
Coleen3
Intuit Alumni

Do I have to report every payment toward my IRA. I turned 66, and have started taking withdrawls.

If you are making contributions or taking distributions, you must report it. If you are receiving from the IRA, you will get a 1099-R. You need to indicate the contributions to make sure that you are allowed to contribute. There are income requirements.

Do I have to report every payment toward my IRA. I turned 66, and have started taking withdrawls.

Is there a way to simply upload the file showing the history of my deposits into my IRA account?

Do I have to report every payment toward my IRA. I turned 66, and have started taking withdrawls.

What do you need it for?  To enter contributions you made in 2017 you only need to enter the total.  You should not need to enter the individual amounts for anything.  I assume this is for entering the 1099R for the withdawals?  What is Turbo Tax asking you?  Is it asking if you made any non-deductible IRA contributions?

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