What does "Was XX's. Roth IRA open on December 31, 2024? mean? I have had this account for a long time. Is it asking if it exists or if I opened a new one?

Forum|Forum|1 year ago
March 8, 2025
2 replies
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Is it asking if it was a new or continuing account?

Best answer by DanaB27

TurboTax is asking this to see if the Roth IRA account was still open on December 31, 2024 or if you closed it during the year.

DanaB27Answer

TurboTax is asking this to see if the Roth IRA account was still open on December 31, 2024 or if you closed it during the year.

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curtturbo

It would be better for TT to ask if your Roth was still open on Dec 31,2024. Confusing when ask open (thinking you just open your Roth account on Dec 31,2024).

dmertz

Employee

TurboTax is asking if you had a nonzero balance in Roth IRAs at year-end (plus any outstanding rollovers from Roth IRAs that were not deposited into the new Roth IRA until after year-end).