Good afternoon!
This is my first time filing my taxes on my own, my wife has done them previously with the documents I generally forward her. However, as I was going through the steps under Deductions & Credits, I realized that I've only provided my wife our 1099DIV for our investments, but none of our Roth IRA contributions were ever included. I've been investing in a Roth IRA since 2012. Can I use past 5498's to see how much I have contributed and then include the entire sum into the field that says "Roth IRA Contributions prior to 2022"?
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Yes, you can. It's asking for your total contributions and that will get it.
But you should be aware that there are Roth contribution limits that have applied all of the years that you have been contributing. If you have been outside any of these limits over the history of your Roth contributions and you didn't enter them into your tax return then you may be subject to penalties now.
Check your rules for Roth contributions.
Hi Robert,
Thanks for the response! I've made sure to stay under the Roth IRA limits each year so I think I should be good there.
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