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Level 1

My tax form is showing a traditional ira but I opened an ROTH. How do I fix this on my turbotax return?

Im currently doing my taxes. I opened a ROTH IRA during the process. Upon completion with my Federal taxes, it shows my IRA as traditional on your form. It should be shown as a ROTH IRA. How can I fix this?

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Accepted Solutions
Level 1

My tax form is showing a traditional ira but I opened an ROTH. How do I fix this on my turbotax return?

Change IRA selections here:
*Federal Taxes,
*Deductions & Credits,
*I’ll choose what I work on (if that screen comes up),
*Retirement & Investments,
*Traditional & Roth IRA contribution.

OR  Use the "Tools" menu  (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

Uncheck the Traditional IRA box then press continue.  The interview will ask if you want to remove the Traditional IRA contribution, say yes and it should be deleted.  Return to the beginning and check the Roth box and continue to enter the Roth contribution.

1 Reply
Level 1

My tax form is showing a traditional ira but I opened an ROTH. How do I fix this on my turbotax return?

Change IRA selections here:
*Federal Taxes,
*Deductions & Credits,
*I’ll choose what I work on (if that screen comes up),
*Retirement & Investments,
*Traditional & Roth IRA contribution.

OR  Use the "Tools" menu  (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

Uncheck the Traditional IRA box then press continue.  The interview will ask if you want to remove the Traditional IRA contribution, say yes and it should be deleted.  Return to the beginning and check the Roth box and continue to enter the Roth contribution.