Withdraw from Roth IRA Before 2016? What is this, and the next question about contributions for? The companies do not keep records further than 10 years back.

[eladdrallim]

These are exempt from tax...why are they wanting this information (which I don't have)?

[dmertz · Accepted solution]

If you made a distribution from your Roth IRA and were under age 59½ at the time or the first year for which you made a Roth IRA contribution was 2012 or later, 2016 TurboTax needs to know the amount of your original contribution that remained in your Roth IRAs as of December 31, 2015 to be able to complete Form 8606 Part III to determine the taxable amount of your distribution.  The information is also needed to determine if investment losses have resulted in unrecoverable Roth contribution basis in the case where you have fully distributed all of your Roth IRA accounts.

If the distribution was made after you reached age 59½, you made your first Roth IRA contribution for a year prior to 2012, and your investments have not suffered an overall loss in value, your distribution is a qualified distribution and TurboTax does not need to complete From 8606 Part III.  In that case you can simply enter zero as your Roth IRA contribution basis.

[eladdrallim]

Thank you!  It would be nice if those factors could be done BEFORE I spend hours digging through old statements to add up totals!  I am over 60, the accounts were set up prior to 2012, this is the first distribution; I could have entered "0" and been done with it!  🙂