What does "Was XX's. Roth IRA open on December 31, 2024? mean? I have had this account for a long time. Is it asking if it exists or if I opened a new one?

[harryeprice]

Is it asking if it was a new or continuing account?

[DanaB27 · Accepted solution]

TurboTax is asking this to see if the Roth IRA account was still open on December 31, 2024 or if you closed it during the year.

[dmertz]

TurboTax is asking if you had a nonzero balance in Roth IRAs at year-end (plus any outstanding rollovers from Roth IRAs that were not deposited into the new Roth IRA until after year-end).

[curtturbo · Accepted solution]

It would be better for TT to ask if your Roth was still open on Dec 31,2024. Confusing when ask open (thinking you just open your Roth account on Dec 31,2024).