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Net regular IRA contributions?

TT asks: Enter prior year Roth IRA contributions. Report xxx net regular contributions prior to 2021.

 

I've been contributing for 20 or so years and have no idea at all how to see what my actual contributions were (as opposed to current value).

 

Will appreciate your help,

Biff

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Accepted Solutions
MinhT1
Expert Alumni

Net regular IRA contributions?

TurboTax is asking for your prior Roth contributions to exclude the contributions from taxation in case you have an early distribution from your Roth IRA. 

 

If you are older than 59 /2 and the Roth account is more than 5 years old, all distributions are tax-free and you do not need to enter your prior contributions. This number is for TurboTax use only. It is not reported on your tax return.

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2 Replies
MinhT1
Expert Alumni

Net regular IRA contributions?

TurboTax is asking for your prior Roth contributions to exclude the contributions from taxation in case you have an early distribution from your Roth IRA. 

 

If you are older than 59 /2 and the Roth account is more than 5 years old, all distributions are tax-free and you do not need to enter your prior contributions. This number is for TurboTax use only. It is not reported on your tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Net regular IRA contributions?

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