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April 20, 2021
Question

I have excess Roth IRA contributions that I need to remove but I can't find the exact amount on my tax documents. Any idea where I can find this amount?

  • April 20, 2021
  • 1 reply
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I have already filed and am working on withdrawing the amount but can't find it located anywhere.

1 reply

macuser_22
Employee
April 20, 2021

Why do you think you have an excess?

 

You will not find it on a tax return any where because Roth contributions are not reported on a tax return.   The IRA contribution interview will tell you if you have an excess.

 

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

A Roth IRA contribution does not actually go on a tax return, but you should enter it anyway to:

1) Tell you if your income qualifies you for a contribution and warn you if it does not.
2) Check if your income exceeds the limit to contribute to a Roth.
3) Track your contribution year-to-year if you use TurboTax every year.
4) Add the Retirement Savers Credit if you qualify.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**