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andreahollander
February 2, 2025
Question

I have never made a withdrawal from my IRA but I am being asked about prior year contributions? Why

  • February 2, 2025
  • 1 reply
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Why does Turbo Tax ask about prior year Roth IRA contributions if I have never made a withdrawal from my IRA?

    1 reply

    RachelW33
    RachelW33
    February 7, 2025

    TurboTax asks for prior year Roth IRA contributions in order to keep track of your basis for possible future tax calculations.  For example, your Roth basis would be needed to calculate tax on an early distribution.

     

    For more information, please see this TurboTax Help Article: Where do I enter my traditional or Roth IRA contributions?

     

     

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