Do I need to report my Roth IRA contributions on TurboTax? How does the IRS track it?

I've been putting money into my Roth IRA with Chase for about 4 years now, but I just realized I don't think I've ever actually reported these contributions when filing my taxes with TurboTax. I've looked through the software a couple times but can't seem to find where I'm supposed to enter this info. Do I even need to report Roth IRA contributions on my tax return through TurboTax? If I don't report it anywhere, how does the IRS actually know I made these contributions? Am I missing something important here or potentially messing up my taxes from the last few years? Starting to worry I've been doing something wrong this whole time.

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20 comments

Chloe Martin

•8M

You generally don't need to report Roth IRA contributions directly on your tax return, and that's why you're not finding a specific place in TurboTax to enter this information. Unlike traditional IRA contributions, Roth contributions are made with after-tax dollars and aren't deductible, so there's no tax benefit to report on your annual return. The IRS tracks your Roth IRA contributions through Form 5498, which your financial institution (Chase in your case) files directly with the IRS. They should also send you a copy for your records, usually around May after the tax filing deadline. You don't need to attach this form to your return or enter its information in TurboTax.

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Chloe Martin

•8M

Your financial institution might provide Form 5498 electronically through your online account rather than mailing a physical copy. Check your Chase online documents section or tax documents area - they're required to make it available to you. While you don't need to include the information on your tax return, it's a good practice to keep these forms for your personal records. They verify your contribution amounts and dates, which can be important if you ever need to make early withdrawals (to prove what portion is contribution vs. earnings) or if there's ever a question about overcontributions.

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Diego Fernández

•8M

After struggling with the same question a few months back, I found this amazing AI tool that actually cleared everything up for me. I was confused about what forms I needed to report and what TurboTax was supposed to handle automatically. The tool at https://taxr.ai analyzed my tax documents, showed me exactly what was already being reported by my bank, and explained what I needed to do (which was nothing in this case). It was such a relief to know I wasn't missing something important!

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Diego Fernández

•8M

Yes, you can upload documents and they use bank-level encryption for security. They're very transparent about their security practices, and they don't store your documents permanently - they're analyzed and then deleted. The AI isn't just making things up - it's trained on actual tax regulations and publications from the IRS. They also have tax professionals who review the system's answers to ensure accuracy. If you're still concerned, you can always verify the information with a CPA, but I found their explanations matched exactly what my tax professional told me later.

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Sean Fitzgerald

•8M

I was super skeptical about AI for taxes (still am about most things), but I gave taxr.ai a shot after seeing it mentioned here. I uploaded my Chase statements and Form 5498, and it immediately identified that my Roth contributions were already being reported to the IRS directly by Chase. Saved me from calling the IRS to ask stupid questions and potentially flagging my account for no reason. Honestly surprised it worked so well - guess the robots aren't completely useless after all!

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Zara Khan

•8M

If you're still worried about this and want confirmation directly from the IRS, good luck getting through to them on the phone! I spent HOURS on hold trying to ask a simple question about my Roth contributions. Finally found this service called Claimyr that got me through to an actual human at the IRS in about 20 minutes instead of the 3+ hours I wasted before. Check out https://claimyr.com or watch how it works at https://youtu.be/_kiP6q8DX5c. They basically navigate the phone tree for you and call you back when there's an actual person ready to talk. Saved my sanity during tax season!

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Zara Khan

•8M

They use an automated system that navigates through all the IRS phone menus and waits on hold for you. When they finally reach a human agent, they call you and connect you directly. It's technically something you could do yourself, but it would mean sitting on hold for hours, which most people don't have time for. I understand the skepticism - I felt the same way! But I was desperate after wasting an entire afternoon on hold. The difference is they have technology that keeps your place in line while you go about your day, then connects you only when an agent is actually available.

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Mateo Gonzalez

•8M

I take back what I said about Claimyr. After my frustrating comment earlier, I was still stuck with this Roth IRA question that was driving me crazy. Broke down and tried the service yesterday when I couldn't get through to the IRS after multiple attempts. Within 27 minutes (I timed it), I was talking to an actual IRS representative who confirmed everything the first commenter said - Form 5498 is filed by the financial institution, and I don't need to report Roth contributions on my return. Saved me hours of stress and hold music. Didn't think it would actually work, but here we are.

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Nia Williams

•8M

For 2025, the income limits for the Saver's Credit are $36,500 for single filers and $73,000 for married filing jointly. At $42,000, you'd be in the 10% credit tier, meaning you could get a tax credit of 10% of your Roth contributions up to a maximum credit of $200. You might have been missing out on this credit in previous years. The good news is you can amend returns from the last three tax years to claim credits you were eligible for but didn't take. TurboTax can help with filing amended returns, or you can use Form 1040-X. Just be aware there are filing deadlines for amendments.

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Ethan Clark

•5M

This is exactly why I love this community - so much helpful information! I had no idea about the Saver's Credit either. For anyone else who might be confused like Omar and I were, I found that TurboTax does have a section for retirement savings contributions, but it's easy to miss if you're rushing through the interview. It's usually under the "Deductions & Credits" section, and they ask about contributions to IRAs, 401(k)s, etc. The key thing is that even though Roth contributions aren't deductible, you still need to report them IF you're eligible for the Saver's Credit. It's one of those situations where the same contribution serves two different purposes - your financial institution reports it to the IRS via Form 5498 (so they know you made the contribution), but you also need to report it on your tax return to claim the credit if you qualify. Thanks everyone for clearing this up - definitely going to check if I missed out on this credit in previous years!

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Darren Brooks

•4M

Thanks for the detailed breakdown, Ethan! This thread has been incredibly helpful. I just checked my TurboTax account from last year and I definitely rushed through some sections without reading carefully. Going to go back and review the "Deductions & Credits" section you mentioned. I'm also curious - when you file an amended return for the Saver's Credit, do you need to have documentation of your Roth contributions, or is the Form 5498 from your financial institution sufficient proof? Just want to make sure I have everything I need before I start the amendment process.

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