I understand that it is not MANDATORY to add ROTH contributions to your tax return. However, I made contributions to a ROTH in 2024 but I do not want to include that info on my return. When i get to the question in TT Online asking me if I made a contribution can i just click “no”? If i click “no” will the IRS think i am lying or will the IRS not even receive that response? I know they will receive a 5498 so they will know about my contributions - I am not attempting to hide anything from the IRS, I just don’t want to add ROTH as a deduction.
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But you should enter it so Turbo Tax can check if you were qualified to make a Traditional or ROTH IRA contribution. It won't be included on your filed return. And you might get the Savers Credit for it.
You don’t have to include the contribution. The question asked is only pertinent to the TurboTax program.
But you should enter it so Turbo Tax can check if you were qualified to make a Traditional or ROTH IRA contribution. It won't be included on your filed return. And you might get the Savers Credit for it.
Where do you enter the Roth IRA contribution you plan to make before the April 15th deadline?
Go to Deductions and Credits > Retirement and Investments > Traditional and Roth IRA Contributions and select Start or Update to get started entering your Roth IRA contribution.
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