Updating the IRA Information Worksheet to include corrected Roth IRA contributions

[lad20]

I made Roth contributions back in 2006 and 2009.  I've been using TT many years, but I do not see where TT carried over any of the Roth contribution info on the IRA Information Worksheet. (Only the non-deductible IRA basis did, which is correct).  The Roth was not converted from an IRA.  I had rolled over a couple Roth employer accounts and the amounts from past 1099Rs are in the worksheet, but not the original Roth contributions from 2006 and 2009 from a non-employer account.  No distributions have been made.  Would I just add my 10,500 of direct Roth contributions to the number showing from the previous Roth rollovers, to Part II lines 6 and 8, and Part V line 23 and 51?  (Note, part VI does not apply.)  Is there anything else to add to the worksheet for my Roth scenario?

[macuser_22 · Accepted solution]

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@lad20 wrote:

I made Roth contributions back in 2006 and 2009.  I've been using TT many years, but I do not see where TT carried over any of the Roth contribution info on the IRA Information Worksheet. (Only the non-deductible IRA basis did, which is correct).  The Roth was not converted from an IRA.  I had rolled over a couple Roth employer accounts and the amounts from past 1099Rs are in the worksheet, but not the original Roth contributions from 2006 and 2009 from a non-employer account.  No distributions have been made.  Would I just add my 10,500 of direct Roth contributions to the number showing from the previous Roth rollovers, to Part II lines 6 and 8, and Part V line 23 and 51?  (Note, part VI does not apply.)  Is there anything else to add to the worksheet for my Roth scenario?

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Roth rollovers will not automatically apply any basis.    You must enter that manually.   Usually when you take a Roth distribution the interview will ask for prior years basis and you can add the basis that the designated Roth had.   That will also add it to the worksheet.

You can add it to the worksheet directly if you want.

Once you reach age 59 1/2 it is irrelevant anyway if you owed any Roth IRA 5 years or more.

[lad20]

Thanks for the quick answer.  Yes, that makes sense about the TT interview asking about basis at the time distributions are made.  It did that for my spouse.  Also good point about the distributions made after 59 1/2 and after 5 years, being irrelevant for the basis/taxability.  Just to clarify, TT did add the Roth Rollovers (from the 1099Rs downloaded), but it did not track the regular contributions to the separate account.  Thanks again!