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jpechmann78
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Roth IRA filing restrictions

 
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Roth IRA filing restrictions

 Because Roth contributions are not deductible, you do not normally report a Roth IRA contribution, anywhere on your tax return. Your custodian/financial institution will report the contribution to the IRS on form 5498 (you get a copy). 

 

 You should still enter the contribution in TurboTax (TT). TT will do a work sheet to track your Roth contributions and check to see if you qualify for the Retirement Savers Contribution Credit. If you do qualify for the credit, TT will submit form 8880 as part of your tax return. 

 

 

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Roth IRA filing restrictions

Roth IRA contributions are not tax deductible.

Go to this IRS website for information on Roth IRA's - https://www.irs.gov/retirement-plans/roth-iras

Roth IRA filing restrictions

 Because Roth contributions are not deductible, you do not normally report a Roth IRA contribution, anywhere on your tax return. Your custodian/financial institution will report the contribution to the IRS on form 5498 (you get a copy). 

 

 You should still enter the contribution in TurboTax (TT). TT will do a work sheet to track your Roth contributions and check to see if you qualify for the Retirement Savers Contribution Credit. If you do qualify for the credit, TT will submit form 8880 as part of your tax return. 

 

 

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