Roth IRA Contributions

Forum|Forum|7 years ago
June 4, 2019
1 reply
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I have owned Roth IRAs since 1998 when we were first allowed to convert traditional IRAs to Roth IRAs. Why am I being asked to go back to 1998 and add up all my contributions? I don't remember that question being asked last year. In fact I don't even have records that go back that far. Roth IRAs contributions have nothing to do with taxes. These distributions codes are "Q". Thank you

TurboTax Premier Online

Best answer by macuser_22

Please keep your question in one thread:

https://ttlc.intuit.com/questions/3906602-i-have-owned-roth-iras-since-1998-when-we-were-first-allow...

You can ignore that question and leave the box blank. TurboTax probably should not ask to at all with a code Q which says it is a qualified, non-taxable distribution. The information is only needed if an early distribution penalty would apply so that your own contributions would not be taxable.

macuser_22

Answer

Alumni - Champ

Please keep your question in one thread:

https://ttlc.intuit.com/questions/3906602-i-have-owned-roth-iras-since-1998-when-we-were-first-allow...

**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.**