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Why can't I see Roth IRA amount on my 2016 tax return?
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Why can't I see Roth IRA amount on my 2016 tax return?
Permitted Roth contributions aren't shown on a 1040 form (including 1040EZ). The only times you'd see a form relating to a Roth contribution is if:
a/ The contribution is excessive, and hence you'd be penalized on making it. A contribution could be excessive when a person makes too much money, is filing married filing separately, or doesn't have enough earned income (plus a few other reasons)
b/ There are certain distributions from the Roth
c/ The contribution allows you to receive a Retirement Savings Credit
If you entered the Roth contribution under Deductions and Credits, Turbo Tax would pick up on your possible eligibility for this credit.
But, in short, the reporting of a permitted contribution isn't shown anywhere.
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Why can't I see Roth IRA amount on my 2016 tax return?
- Mark as New
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Why can't I see Roth IRA amount on my 2016 tax return?
- Mark as New
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- Permalink
- Report Inappropriate Content
Why can't I see Roth IRA amount on my 2016 tax return?
Permitted Roth contributions aren't shown on a 1040 form (including 1040EZ). The only times you'd see a form relating to a Roth contribution is if:
a/ The contribution is excessive, and hence you'd be penalized on making it. A contribution could be excessive when a person makes too much money, is filing married filing separately, or doesn't have enough earned income (plus a few other reasons)
b/ There are certain distributions from the Roth
c/ The contribution allows you to receive a Retirement Savings Credit
If you entered the Roth contribution under Deductions and Credits, Turbo Tax would pick up on your possible eligibility for this credit.
But, in short, the reporting of a permitted contribution isn't shown anywhere.
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