topic 1309.89 in Retirement tax questions

What do I put in the "Enter Prior Year Roth IRA Contributions" screen?

Adam10 — Thu, 06 Jun 2019 14:30:57 GMT

My wife previously contributed $17,000 to a Roth IRA. In 2017, we withdrew $10,000 early. What do I put in the "Enter Prior Year Roth IRA Contributions" screen? I initially thought I would put $17,000; however, the example indicates I should enter $7,000. If I enter $7,000, then TurboTax would only think $7,000 was ever contributed, right?

Only reduce the $17,000 contributed prior to 2017 for any...

dmertz — Thu, 06 Jun 2019 14:30:58 GMT

Only reduce the $17,000 contributed prior to 2017 for any withdrawals made prior to 2017. If she made no withdrawals prior to 2017, enter $17,000.

(I assume that the $17,000 was all from contributions made for years prior to 2017 and does not include any contributions made for 2017. Any contribution for 2017 would be entered separately under Deductions & Credits.)

Thank you much! The $17,000 in contributions were made fr...

Adam10 — Thu, 06 Jun 2019 14:30:59 GMT

Thank you much! The $17,000 in contributions were made from 2009 through 2012 and she had never made a withdrawal before the $10,000 in 2017. I will enter the $17,000 in the field.

1309.89

candcane74byars — Thu, 06 Jun 2019 14:31:00 GMT

1309.89