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February 14, 2025
Question

Is the "Roth Contributions prior to 2024" looking for the "cost basis" and to include 401k Rollovers since since I opened my Roth IRA 24 years ago?"

  • February 14, 2025
  • 1 reply
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    1 reply

    February 17, 2025

    Yes, normally when TurboTax asks for your Roth IRA contributions prior to 2024, it is looking for your total cost basis—the sum of all your after-tax contributions made over the years, excluding any earnings or gains. This includes any pre-tax 401(k) rollovers that were taxed when they were converted to a Roth IRA.