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What is the proper way to file your Roth IRA?

Forum|Forum|5 years ago
January 22, 2021
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For a Roth IRA that has no withdrawals and only monthly contributions, (which have been reported through the Traditional and Roth IRA section on TurboTax) is there anything else that needs to be reported or shown on your return? Thanks

TurboTax Deluxe Online

Best answer by MinhT1

If you have entered your Roth IRA contributions in TurboTax in the Traditional and Roth IRA section, there is nothing else to do. Roth IRA contributions are not tax deductible.

M

MinhT1Answer

If you have entered your Roth IRA contributions in TurboTax in the Traditional and Roth IRA section, there is nothing else to do. Roth IRA contributions are not tax deductible.

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mxp2620Author

My Roth IRA is set to release consolidated 1099 forms in a few days, which could include several forms like the 1099-INT. Do these need to be filed separately, or since this is a Roth IRA, no further action needs to be taken?

VolvoGirl

Employee

You should not be getting any 1099 forms for IRA, ROTH IRA or 401k or retirement accounts. Only 1099R for withdrawals. If you do get a 1099 for interest, dividends, sales etc. you do not report it.