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james-g
New Member

Why do i state distribution from roth ira which was not taxable from 2014?. I took 5000 out which was totally ok since the ira is way over 5 years and i was over the age, I dont have paperwork for this since i already had entered on my 2014 taxes

 
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dmertz
Level 15

Why do i state distribution from roth ira which was not taxable from 2014?. I took 5000 out which was totally ok since the ira is way over 5 years and i was over the age, I dont have paperwork for this since i already had entered on my 2014 taxes

I'm guessing that you are answering questions related to the Retirement Savings Contributions Credit.  Any amounts distributed from your Roth IRA from January 1, 2014 through the due date of your 2016 tax return, taxable or not, reduce the amount of new retirement contributions that are considered when calculating your 2016 Retirement Savings Contributions Credit.  You must enter the amount, otherwise your tax return might end up claiming a tax credit for which you are not eligible.

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1 Reply
dmertz
Level 15

Why do i state distribution from roth ira which was not taxable from 2014?. I took 5000 out which was totally ok since the ira is way over 5 years and i was over the age, I dont have paperwork for this since i already had entered on my 2014 taxes

I'm guessing that you are answering questions related to the Retirement Savings Contributions Credit.  Any amounts distributed from your Roth IRA from January 1, 2014 through the due date of your 2016 tax return, taxable or not, reduce the amount of new retirement contributions that are considered when calculating your 2016 Retirement Savings Contributions Credit.  You must enter the amount, otherwise your tax return might end up claiming a tax credit for which you are not eligible.

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