Should I include parent's contributions to Roth IRA when calculating basis?

[nigelctmccallum]

Hello. My parents set up a Roth IRA in my name when I was very young. I am now an adult and made my first contribution to the account this year. Turbotax is telling me I should start keeping tracking of my IRA basis. Should I include contributions from my parents or only my contributions? Thank you.

[JulieR · Accepted solution]

Yes. Your parents' contributions to your Roth Ira should be included.