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February 24, 2025
Question

What are Prior Year Roth IRA Contributions

  • February 24, 2025
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What are Prior Year Roth IRA Contributions

    1 reply

    February 24, 2025

    Prior year Roth IRA contributions are the contributions that you made for tax years earlier than 2024.  This doesn't include earnings, just contributions that you made to the Roth IRA. 

     

    The prior year Roth IRA contributions are needed to determine whether any of your current year distribution is taxable, if any, or to help you track your basis for future distributions.