Author Topic: Roth IRA - Tax Forms, Records, Etc.  (Read 510 times)


  • 5 O'Clock Shadow
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Roth IRA - Tax Forms, Records, Etc.
« on: March 10, 2017, 04:31:51 AM »
Hi all,

I had some quick questions about RothIRAs.

My understanding is that I DO NOT need to submit anything for the the Roth IRA with my tax forms . I use H & R Block to file my taxes online and they used 2 different worksheets to check my contributions - but it doesn't appear that they are actually filed with the form.

I also want to know what records I personally should keep over the years.  My wife's RothIRA was started many years ago by her father, and I do not know the contributions, etc. and would have to contact Fidelity to get all of the info.

Or do the companies keep all of the records, and I just don't even need to worry about this during my building phase?

Thanks in advance!


  • Walrus Stache
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Re: Roth IRA - Tax Forms, Records, Etc.
« Reply #1 on: March 10, 2017, 09:02:39 AM »
If you are planning on something like a Roth ladder... you will want to know the total amount of contributions (as opposed to growth/dividends).  You are able to withdraw the contribution amounts penalty free at any age.  Growth/dividends may be withdrawn tax-free, penalty-free at age 59.5.

In other words: The main records you will want is amount of contributions.
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  • 5 O'Clock Shadow
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Re: Roth IRA - Tax Forms, Records, Etc.
« Reply #2 on: March 10, 2017, 09:51:13 AM »
The companies keep all the records.  However, if you use multiple brokerages like I did over the years, you will have some work on your hands when you attempt a Roth Principle rescue (I wrote about my experience on my blog). 

I don't think there is much you need to do in tax software other than entire the contributions you made for the year.  Distributions are a bit more involved, but aren't that bad from my experience.  At some point I had to check a box on the software that denoted the distributions were a "return of contributions."

Hope that helps. 
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