turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

urface85
New Member

I closed out my Roth IRA early. Turbo tax wants my prior year contributions but I haven't contributed to my IRA in over 15 years. So I really don't know what to put.

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I closed out my Roth IRA early. Turbo tax wants my prior year contributions but I haven't contributed to my IRA in over 15 years. So I really don't know what to put.

You need to dig up your total prior year contributions any way you can ... you should have been keeping the contribution records ... did you keep the form 5498 from the custodian every year ?  

ColeenD3
Expert Alumni

I closed out my Roth IRA early. Turbo tax wants my prior year contributions but I haven't contributed to my IRA in over 15 years. So I really don't know what to put.

If you still have any prior returns from that far back, you might look at a Form 8606 to see if there are any entries that can shed some light. If you have a investment advisor holding your funds, he may have the answer. You may also have old 5498 forms.

 

If you’re sure you're not going to tap your account until retirement—specifically after age 59 and a half—you don’t have to bother to keep track of your contributions. All withdrawals after you’ve reached age 59 and a half and had the account at least five years are tax-free and penalty-free.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies