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Want to enroll to a roth IRA How do I get that information. I had previously seen a screen with its not to late to enroll to an account here on turbo tax.

 
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Want to enroll to a roth IRA How do I get that information. I had previously seen a screen with its not to late to enroll to an account here on turbo tax.

If you income qualifies you for a Roth (which is not deductible) then you can open a Roth IRA at any financial institution, bank or broker of your choice.

See this IRS article for Roth contribution limits:

https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-L...

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

A Roth IRA contribution does not actually go on a tax return, but you should enter it anyway to:

1) Tell you if your income qualifies you for a contribution and warn you if it does not.
2) Check if your income exceeds the limit to contribute to a Roth.
3) Track your contribution year-to-year if you use TurboTax every year.
4) Add the Retirement Savers Credit if you qualify.

**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.**

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2 Replies

Want to enroll to a roth IRA How do I get that information. I had previously seen a screen with its not to late to enroll to an account here on turbo tax.

If you income qualifies you for a Roth (which is not deductible) then you can open a Roth IRA at any financial institution, bank or broker of your choice.

See this IRS article for Roth contribution limits:

https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-L...

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

A Roth IRA contribution does not actually go on a tax return, but you should enter it anyway to:

1) Tell you if your income qualifies you for a contribution and warn you if it does not.
2) Check if your income exceeds the limit to contribute to a Roth.
3) Track your contribution year-to-year if you use TurboTax every year.
4) Add the Retirement Savers Credit if you qualify.

**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.**

Want to enroll to a roth IRA How do I get that information. I had previously seen a screen with its not to late to enroll to an account here on turbo tax.

Thank you
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