RETIREMENT

Forum|Forum|5 years ago
March 20, 2021
1 reply
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Three questions.

If I contributed to a Roth can I deduct that amount?

I received a form 1099-R. I rolled the money over into a retirement account. Do I need to report it anywhere in my taxes?

I entered my employee retirement account contributions from box 12b when first started entering information from my W2. Do I reenter the amount in retirement section?

macuser_22

@DAVID189 wrote:

Three questions.

If I contributed to a Roth can I deduct that amount?

I received a form 1099-R. I rolled the money over into a retirement account. Do I need to report it anywhere in my taxes?

I entered my employee retirement account contributions from box 12b when first started entering information from my W2. Do I reenter the amount in retirement section?

#1 No - Roth's are not deductible.

#2 Yes. Any 1099-R must be reported in the Retirement 1099-R section.

#3 No. only in the W-2. The employer has already reported it.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**