Question

I have a question about reporting Roth IRA contributions — Can I get direction on how to report Roth IRA contributions on my return?

Answer

Regarding how to report Roth IRA contributions, Roth contributions aren’t tax-deductible, so reporting Roth IRA contributions on your return isn’t an issue.

However, you might be eligible for the Saver’s Credit based on your Roth IRA contributions. To learn more, see the instructions for Form 8880.

Related Topics

Related Resources

Bitcoin Income: Exploring Capital Gains & Stock Value | H&R Block

Have you recently earned Bitcoin income from rising stock value? Explore the rules surrounding cryptocurrency-sourced capital gains and losses with H&R Block.

What Is Cryptocurrency? | H&R Block

What is Cryptocurrency? Bitcoin, Litecoin, and the like leave many wondering how to classify this new form of investment. Find the answer at H&R Block.

How To Offset Capital Gains | H&R Block

Understanding how to offset capital gains is a topic that many tax filers avoid. Brush up on key terms and the process with advice from H&R Block tax pros.

The IRS, Bitcoin, and Other Virtual Currencies | H&R Block

Have you found yourself wondering how the IRS classifies Bitcoin? Our tax pros discuss relevant IRS Bitcoin law and notices. Learn more with H&R Block.