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April 8, 2024
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How many years back ? roth IRA contributions prior to 2023

  • April 8, 2024
  • 2 replies
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roth ira contributions prior to 2023 ??? how many years prior to 2023?
Best answer by DanaB27

TurboTax is asking about all your net contributions prior to 2023, therefore you would start with the first Roth IRA contribution and add them all up. If you took distributions prior to 2023 you would deduct them. This will get you the net contributions prior to 2023.

 

Please be aware, if you had a Qualified Distribution and your Form 1099-R has code Q or T then you can ignore the question about the net contributions.

2 replies

Employee
April 8, 2024

The program wants to know if you opened your Roth 5 or more years ago. 

DanaB27Answer
April 8, 2024

TurboTax is asking about all your net contributions prior to 2023, therefore you would start with the first Roth IRA contribution and add them all up. If you took distributions prior to 2023 you would deduct them. This will get you the net contributions prior to 2023.

 

Please be aware, if you had a Qualified Distribution and your Form 1099-R has code Q or T then you can ignore the question about the net contributions.

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