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New Member
posted Jan 26, 2026 7:17:36 PM

ROTH IRA Contributions taxed

Hello,

 

I started a ROTH IRA in Nov 2024, slowly contributed a little bit at a time during the year, I had put in 550 during 2024, and another 200 in 2025. Then later in 2025 I withdrew all of it for 676.05. Why am I paying taxes on this? I lost money as I was only pulling out what was left of my contributions.

 

Thank you.

0 3 1478
3 Replies
Employee Tax Expert
Jan 27, 2026 4:54:27 AM

Withdrawals of your contributions to a Roth IRA are not taxable. In TurboTax Online, you'll have to enter your prior year Roth contributions so that TurboTax knows not to tax your withdrawals.

 

After you have entered your form 1099-R, TurboTax will take you back to the summary page titled Your 1099-R Entries.

 

On that page, click Continue and follow the TurboTax interview until you arrive at the page titled Enter Prior Year Roth IRA Contributions where you can enter the amount of your past contributions.

Level 15
Jan 27, 2026 6:10:26 AM

Also make sure that you have entered the $200 in 2025 TurboTax if that contribution was made for 2025 rather than for 2024.

New Member
Jan 27, 2026 8:41:07 AM

Looking much better now, thank you.