Entering Prior Year Roth IRA Contributions - Prior to 2021

[dc2psguy]

Hi... I looked at previous similar questions but didn't feel that I got my answer.

I withdrew the remaining balance of my Roth IRA in 2021 after having making one other withdrawal after turning 59 1/2 in 2020. That IRA now has a zero balance. TT is asking for my Roth IRA contributions prior to 2021, but I don't have all those going back 20 years or more from a previous employer's 401K plan. I'm not sure what to do. Help!

[DanaB27 · Accepted solution]

You stated that you are over 59 1/2 and if you had the Roth IRA for longer than 5 years then this would be a Qualified Distributions and the net contributions will not matter since all distributions are non-taxable.

Please see Calculation of Roth basis for additional information.

[lakedaisy]

Since I'm 74 and haven't contributed  to the ROTH for 13 years, what do I put in turbotax?  $0? Leave blank?

[DanaB27]

If you do not have any information on the previous Roth contributions then you can leave the field blank. All your Roth distributions will be Qualified Distributions since you are over 59 1/2 and had the Roth IRA for more than 5 years.

@lakedaisy

[dclyman]

Hello,  I am stuck on this screen and cannot find an answer I understand.  This field came primed at 1,832.  I am 82 years old, opened my Roth IRA in12/2013, making maximum deposits at that time of 6,500, and every year afterward, and including the maximum when it went up to 7,000. I made, mistakenly, withdrawals starting in 2/2020.  There are a couple entries in my history report, one being Bonus Premium, and the other being Internal  Rollover, whatever that was.  Not sure what I should enter on this screen.  Do not understand where the 1,832 came from, but it doesn't appear correct.  Please advise.

[DanaB27]

I'm not sure where your $1,832 came from. Generally, the net contributions would be all your contributions to the Roth IRA minus distributions from the Roth IRA. Conversions are not included on this screen. You will enter conversions on the next screens.

But since you are 82 and had the Roth IRA for more than 5 years all your Roth distributions will be Qualified Distributions and the entry won't matter. All your distributions should be nontaxable.

@dclyman

[incoda]

I'm stuck on "Enter Prior Year Roth IRA Contributions"... I already did this in past filings with TurboTax, I don't know why it's asking for them again, nor how long it'll take me to dig this all up again, nor do I want to be double-taxed for them. Why isn't TurboTax seeing my withdrawals and contributions in past years?! I'm under 50. Always some snag with TurboTax.

[JulieS]

I don't know why TurboTax doesn't track this over the years. For myself, I keep track of contributions on a spreadsheet and just add to it. 

If you do dig up all of this information again, be sure to keep a copy of it outside of your tax return for later reference. 

[incoda]

Right, I keep copies of anything tax-related; and I have all of the information from the contributions.

The issue isn't that I don't have that info, nor ultimately that I have to go dig up random things TurboTax forgot I already told them.

The issue is TurboTax forgetting info I told them.

[Denverbarb]

My husband and I are 78 and 80 in 2022. All our withdrawals are RMDs. Do I leave that square blank on the "Prior Year Roth IRA Contributions" page?

Thanks.

[AmyC]

Yes, the RMD is nontaxable in your case. No need to determine the taxable portion based on contributions.

@Denverbarb 

[dmertz]

Your Roth IRAs don't have RMDs, so your RMDs have nothing to do with any questions about Roth IRAs.