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W
wesleycary
January 21, 2025
Question

If I opened a Roth IRA in March 2024 and immediately contributed to it (meaning it fell in the 2023 tax year), do I say I opened the account in 2023 or 2024?

  • January 21, 2025
  • 2 replies
  • 0 views
Turbo Tax asks "Did you open a Roth IRA before 2024?" and I'm not sure how to answer this.

    2 replies

    O
    Opus 17
    Employee
    January 21, 2025

    ...

    D
    dmertz
    Employee
    January 21, 2025

    Answer Yes if you designated the contribution as being for 2023, reported in box 10 of your 2023 Form 5498.  The fact that the account was actually established in 2024 is irrelevant under these circumstances.

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