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AP99
Level 2

ROTH IRA contribution question in Turbotax

My husband and I are over both over 59 1/2 and have had ROTH IRAs for more than 20 years. We took some partial distributions this year. Turbotax is asking for all of our past contributions. We never made any nondeductible contributions but we don't have all the records going back from the beginning. Why do we need to provide this data if these distributions should be non-taxable?

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2 Replies
DanaB27
Expert Alumni

ROTH IRA contribution question in Turbotax

Yes, since you are over 59 1/2 and had the Roth IRA for more than 5 years then your distributions would be Qualified Distributions and you don't really have to worry about the net contributions prior to 2023 question since all your distributions will be non-taxable. Your Form 1099-R should have code Q and you can ignore the question about the net contributions.

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ROTH IRA contribution question in Turbotax

Why can't TT avoid asking the contribution question in the first place since it knows the filer's Birth date? At the very least there should be more detailed text in the question.

 

Many people could be wasting a TON of time digging up years of prior contribution history.

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