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February 27, 2023
Question

Can I get my Roth IRA Contribution basis back? I believe I had it in last years tax form, and it was in here when I started my return, but now it is blank.

  • February 27, 2023
  • 1 reply
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I think the amount went away as I modified contribution amounts for Traditional and Roth

1 reply

February 27, 2023

Yes, you can track your prior year's Roth contribution basis and reenter it (from last year's return IRA Information worksheet Part II):

 

  1. Click on "Search" on the top right and type “IRA contributions” 
  2. Click on “Jump to IRA contributions"
  3. Select “traditional IRA” and "Roth IRA"
  4. Answer questions in regard to your traditional IRA
  5. On the "Roth IRA Contributions" screen answer "No"
  6. On the "Did You Open a Roth IRA Before 2021?" answer "Yes"
  7. On the "Let Us Track Your Roth IRA Basis" screen answer "Yes"
  8. TurboTax will ask you follow-up questions in regard to net contributions and conversions.

 

It is always a good idea to keep track of your basis outside of the program as well.

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