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Entering Prior Year Roth IRA Contributions - Prior to 2021

Forum|Forum|4 years ago
February 16, 2022
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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!

Best answer by DanaB27

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.

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DanaB27Answer

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.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

L

lakedaisy

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

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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

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