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
You'll need to sign in or create an account to connect with an expert.
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.
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.
Thanks!
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
duranwl01
New Member
keeponjeepin
New Member
forologia45
Level 1
hnk2
Level 1
les_matheson
Level 2