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Question

Entering Roth IRA information

Forum|Forum|1 year ago
April 2, 2025
1 reply
0 views

Good afternoon, I am curious as to why there are 2 locations to enter Roth IRA information and if you need to enter in both locations?

The first location is under "Wages & Income" "Retirement Plans and Social Security" "1099-R"

The second location is under "Deductions & Credits" "Retirement and Investments" "Traditional and Roth IRA Contributions"

Thank you

It depends on what Roth activity you had for the year.

The reason for this is that Roth IRA transactions are not always either income or deductions. If you received a 1099-R (income), report what took you took out or rolled over in the Wages & Income section. If you made a contribution, enter this in the Deductions & Credits section.

If you have a question specific to your situation, please provide some more details and we can assist you.

jgkaAuthor

Thank you for the information, that answers my question.