topic I'm preparing tax return my high schooler son (17 years old). He contributed roth IRA. but this free version of turbotax doen't allow enter such info. in Retirement tax questions

I'm preparing tax return my high schooler son (17 years old). He contributed roth IRA. but this free version of turbotax doen't allow enter such info.

wkms — Sat, 01 Feb 2020 20:37:09 GMT

Re: I'm preparing tax return my high schooler son (17 years old). He contributed roth IRA. but this free version of turbotax doen't allow enter such info.

MikeinSC — Sat, 01 Feb 2020 20:40:35 GMT

Roth IRA contributions are not reported on the tax return.

Re: I'm preparing tax return my high schooler son (17 years old). He contributed roth IRA. but this free version of turbotax doen't allow enter such info.

dmertz — Sun, 02 Feb 2020 01:45:16 GMT

All versions of TurboTax permit entering Roth IRA contributions. However, if your son had no compensation to support the Roth IRA contribution the contribution is an excess contribution subject to a 6% penalty calculated on Form 5329 and the TurboTax Free Edition does not support filing Form 5329.

Re: I'm preparing tax return my high schooler son (17 years old). He contributed roth IRA. but this free version of turbotax doen't allow enter such info.

wkms — Sun, 02 Feb 2020 13:53:36 GMT

Thank you. Now I see it. I had to manually go the deduction section add. It asked me if I had contributed earlier but never prompted me to enter the form.

yes, my son held party time jobs with W2's. so he had income which is why we want to start roth ira for him.