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aarons42
Returning Member

Roth IRA

This question is in regard to the "Enter prior year Roth Contribution" screen.  From the screen examples provided, the amount required to be entered appears to be the original contributions net of distributions of those original contributions.   In the case of an amount originally contributed (no conversion amounts) 10 years prior which have increased in value due to market activity, then 100 percent distributed to bring the value of the account to zero in 2018.  The question is would the amount entered in the field tilted "Roth Contributions prior to 2018" be zero?   

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1 Reply

Roth IRA

You enter the actual amount of *your* own pre 2018 contributions that you have not already remove with other distributions .   The increase in value (or loss)  is not included.   Contributions are always distributed before earnings from a Roth.

 

Note: if your age is 59 1/2 or more, then the distribution is not subject to any early distribution penalty anyway so you can just enter zero and not worry about the amount since it will make no difference.

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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