Hello, Is it necessary to report my Roth IRA Contributions? Thanks!

[Ashby · Accepted solution]

You do not report your Roth IRA and Roth 401 (k) contributions on your tax return as they are not deductible.

But keep track of these contributions over the years. If you have to make an early withdrawal from your Roth accounts, the contributions are not taxable or subject to early withdrawal penalty.

[Critter]

Entering it is wise not only so the program can track it for you but you may be eligible for the Saver's credit.

[Ashby]

This is a good point because I did not think of the Saver's credit!