Rolled Roth IRA from work to an outside Roth IRA - Why is Turbo asking me to enter contributions when it was a rollover?

Forum|Forum|1 year ago
March 7, 2025
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I started a Roth IRA through work in 2021. A certain percent of my check went to that Roth IRA. In 2024 I rolled that Roth IRA into another Roth IRA (outside of work). On the Turbo Tax 1099-r form, I entered box 5 which shows contributions. Now Turbo Tax is asking me what I contributed previous to 2024. How do I know what the previous contributions were prior to 2024? Do I need to enter that since this was not a withdrawal but a rollover from one Roth IRA to another Roth IRA ? Lastly, I've owned this Roth IRA for less than 5 years, but it's still a Roth IRA, just rolled over to another company.

Best answer by dmertz

Ok, that makes sense. But if it was contributions taken directly from a paycheck how would I reflect that? thank you!

Whatever was taken from your paycheck should be present in box 12 of your W-2. Enter whatever is in box 12 of your W-2 only in box 12 of TurboTax's W-2 form. That's all you need to do.

DanaB27

To clarify, what is the code in box 7 of your Form 1099-R? Was this rollover from a Designated Roth account?

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MyDashaAuthor

The code is "H". It was a qualified Roth IRA. The plan allowed me to set a certain percentage of my pay towards a 401k and a certain percentage towards the Roth IRA. Also, I am over 59 1/2

dmertz

Employee

The Roth account in the employer plan was a designated Roth account in the employer plan, not a Roth IRA. When you enter the code-H Form 1099-R into TurboTax, TurboTax will automatically treat the box-5 amount as an addition to your Roth IRA contribution basis.