Question

Why is TT asking me to "Enter Net Regular ROTH IRA Contributions prior to 2023"?

Forum|Forum|2 years ago
February 11, 2024
1 reply
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I have had my ROTH IRA much longer than 5 years and, now at age 73, I took my first distribution. Why is Turbotax asking me to "Enter Net Regular Contributions prior to 2023" when none on my distribution is taxable in the first place? At this stage in my life I have no idea how much I contributed, my long past conversions from my traditional Rollover IRA or what I got in investment gains as those records shouldn't be needed any longer for someone my age.

D

dmertz

Employee

TurboTax always asks for this when you have entered something about a Roth IRA. In your case, it's unnecessary to provide this information as long as you indicate to 2023 TurboTax, if asked, that you had a Roth IRA before 2019. TurboTax will then treat any of your regular Roth IRA distributions as qualified distributions and will not prepare Form 8606 Part III.