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June 1, 2019
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I'm not sure if i am supposed to include my Roth IRA contributions, and if I am, where do I find this number?

  • June 1, 2019
  • 1 reply
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Best answer by MargaretL

No, you are not required to enter your Roth IRA contributions. However, I still recommend that you do.   

The actual contribution makes no impact on your tax return and it is not a deduction... but entering it in TurboTax will help you keep track of your basis in the account. Also, you may also be able to get Retirement Savings Credit if you otherwise qualify. 

Here is data entry for IRA contributions (Roth and Traditional):

  1. Federal Taxes
  2. Deductions and Credits (you may have to select see all tax breaks)
  3. Scroll down to Retirement and Investment
  4. Select Traditional and Roth IRA Contributions

TurboTax data entry for Retirement Savings Contributions Credit is as follows:

  1. Federal Taxes
  2. Deductions & Credits
  3. Retirement and Investments, select Retirement Savings Contributions Credits


To qualify for the Retirement savings contributions credit, you meet all four of these requirements:

  • You are not a full-time student.
  • Age 18 or older.
  • No one else claims you as a dependent on their 2016 tax return.
  • Your adjusted gross income (AGI) does not exceed:
    • $61,500 if married filing jointly
    • $46,125 if head of household
    • $30,750 if single, married filing separately, or a qualified widow(er)

1 reply

MargaretL
MargaretLAnswer
Employee
June 1, 2019

No, you are not required to enter your Roth IRA contributions. However, I still recommend that you do.   

The actual contribution makes no impact on your tax return and it is not a deduction... but entering it in TurboTax will help you keep track of your basis in the account. Also, you may also be able to get Retirement Savings Credit if you otherwise qualify. 

Here is data entry for IRA contributions (Roth and Traditional):

  1. Federal Taxes
  2. Deductions and Credits (you may have to select see all tax breaks)
  3. Scroll down to Retirement and Investment
  4. Select Traditional and Roth IRA Contributions

TurboTax data entry for Retirement Savings Contributions Credit is as follows:

  1. Federal Taxes
  2. Deductions & Credits
  3. Retirement and Investments, select Retirement Savings Contributions Credits


To qualify for the Retirement savings contributions credit, you meet all four of these requirements:

  • You are not a full-time student.
  • Age 18 or older.
  • No one else claims you as a dependent on their 2016 tax return.
  • Your adjusted gross income (AGI) does not exceed:
    • $61,500 if married filing jointly
    • $46,125 if head of household
    • $30,750 if single, married filing separately, or a qualified widow(er)