https://ttlc.intuit.com/community/retirement/discussion/i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-that-what/01/3524901#M237873 Just wondering if I need to report the regular monthly deduction by Primerica, or if it asks about ADDITIONAL ones? Tue, 03 Feb 2026 07:31:40 GMT sammy10005 2026-02-03T07:31:40Z https://ttlc.intuit.com/community/retirement/discussion/i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-that-what/01/3524901#M237873 Just wondering if I need to report the regular monthly deduction by Primerica, or if it asks about ADDITIONAL ones? Tue, 03 Feb 2026 07:31:40 GMT https://ttlc.intuit.com/community/retirement/discussion/i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-that-what/01/3524901#M237873 sammy10005 2026-02-03T07:31:40Z https://ttlc.intuit.com/community/retirement/discussion/re-i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-th/01/3524916#M237875 <P>No, a retirement savings contribution credit is a credit against your federal income tax for contributing to a retirement account. Depending on your income, if you make contributions to a retirement account during the year and meet other requirements you can get a reduction in your income tax in the form of a credit.</P> Thu, 27 Feb 2025 22:49:27 GMT https://ttlc.intuit.com/community/retirement/discussion/re-i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-th/01/3524916#M237875 ThomasM125 2025-02-27T22:49:27Z https://ttlc.intuit.com/community/retirement/discussion/re-i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-th/01/3524988#M237880 <P>Ok..... so, the standard monthly amount my Roth IRA takes out of my bank statement is NOT considered "contribution" to a retirement account here?</P> Thu, 27 Feb 2025 23:07:50 GMT https://ttlc.intuit.com/community/retirement/discussion/re-i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-th/01/3524988#M237880 sammy10005 2025-02-27T23:07:50Z https://ttlc.intuit.com/community/retirement/discussion/re-i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-th/01/3525014#M237885 <P>It is a contribution that may afford you a credit. The credit would be called a retirement savings contribution credit. But the contribution would be just that, a contribution, not a credit. You may not qualify for the credit just because you make a retirement contribution. Also, the credit would be less than the contributions you make.</P> Thu, 27 Feb 2025 23:12:47 GMT https://ttlc.intuit.com/community/retirement/discussion/re-i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-th/01/3525014#M237885 ThomasM125 2025-02-27T23:12:47Z https://ttlc.intuit.com/community/retirement/discussion/re-i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-th/01/3525019#M237886 <P>Yes you are contributing to your ROTH IRA.&nbsp; You need to enter the total contribution for the year into Turbo Tax.&nbsp; It can qualify you for the Retirement Savings Credit.&nbsp;&nbsp;</P> Thu, 27 Feb 2025 23:15:28 GMT https://ttlc.intuit.com/community/retirement/discussion/re-i-am-still-unsure-is-the-monthly-roth-ira-contribution-that-comes-with-the-account-is-th/01/3525019#M237886 VolvoGirl 2025-02-27T23:15:28Z