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April 1, 2023
Question

Roth IRA withdrawal

  • April 1, 2023
  • 1 reply
  • 0 views

Since 2017 I have invested $5000 in a Roth IRA prior to 2022.  In 2022 I withdrew $5000.  The turbo tax screen is asking me to "Confirm net regular contributions prior to 2022 that remain in the IRA"  The follow up then asks for "Roth IRA Contributions prior to 2022".  The wording here confuses me.  Do I enter $5000 or $0?

    1 reply

    April 2, 2023

    You would enter the $5,000 as net contributions prior to 2022 (assuming you didn't make any other withdrawals between 2017 and 2021).

     

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    scottirvAuthor
    April 4, 2023

    Thanks to DanaB27 for the prompt reply.   I appreciate the help in clearing up my confusion.