topic You can invest money in roth IRA upto a certain income limit. But how IRA makes sure about this? Only distributions from roth IRA need to be reported, not contributions! in Retirement tax questions

You can invest money in roth IRA upto a certain income limit. But how IRA makes sure about this? Only distributions from roth IRA need to be reported, not contributions!

tejinderkumar — Mon, 23 Feb 2026 10:49:55 GMT

Re: You can invest money in roth IRA upto a certain income limit. But how IRA makes sure about this? Only distributions from roth IRA need to be reported, not contributions!

Critter-3 — Mon, 16 Jan 2023 01:32:06 GMT

Ok ... in the TT program ... in the IRA input section... if you enter your ROTH contributions the program will let you know if you put in too much so you can withdraw the excess and avoid a penalty.

If you do NOT enter your ROTH contributions in the TT program then when the IRS gets the form 5498 reporting the ROTH contributions they will figure out if the contribution was not allowed ... if you wait for the IRS to figure it out it will cost you more in penalties. So better to do this yourself.

Re: You can invest money in roth IRA upto a certain income limit. But how IRA makes sure about this? Only distributions from roth IRA need to be reported, not contributions!

fanfare — Mon, 16 Jan 2023 03:49:52 GMT

IRS knows everything you did via Form 5498

@tejinderkumar