1061907
You'll need to sign in or create an account to connect with an expert.
Roth IRA contributions are not reported on the tax return.
All versions of TurboTax permit entering Roth IRA contributions. However, if your son had no compensation to support the Roth IRA contribution the contribution is an excess contribution subject to a 6% penalty calculated on Form 5329 and the TurboTax Free Edition does not support filing Form 5329.
Thank you. Now I see it. I had to manually go the deduction section add. It asked me if I had contributed earlier but never prompted me to enter the form.
yes, my son held party time jobs with W2's. so he had income which is why we want to start roth ira for him.
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.
rafaxxxxxxlol
New Member
botin_bo
New Member
tianwaifeixian
Level 4
FroMan
New Member
xiaochong2dai
Level 3