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April 2, 2025
Question

Why do I need to track basis for Roth Contributions?

  • April 2, 2025
  • 1 reply
  • 0 views

If Roth withdrawals are tax free why do I need to track the contributions?   I am over 59 1/2 and have had Roth longer than 5 years.

    1 reply

    April 2, 2025

    You do not have to track your contributions for Roth IRAs.  This is a feature in TurboTax for people who are not as familiar with the IRA rules.