<p>We closed a Roth IRA we had opened in 2004 and 2005. We made a couple of 1000 on it. Where do we report it using TurboTax?</p>
<p>Unless I am mistaken, Roth IRA contributions are made with after-tax dollars (meaning that you didn’t get a tax deduction for the contribution when you made it. All earnings in a Roth IRA are not subject to tax, (There are some eligibitlyt exceptions depending on your age and how long ago the contributions were made. </p>
<p>But generally speaking, I think its likely that you don’t have to report this transaction, since its likely not taxable. </p>
<p>There are lots of places to look up the rules. The biggest issues are whether you met the 5 year aging requirement, and whether you are over 59 1/2 in age.</p>
<p>Usually you get a 1099 for the distribution from your ira manager. Turbotax will walk you through it if you find where to report the 1099 on the step by step menu.</p>
<p>Thank you. Being over 59 1/2 is not a problem. I can’t remember when I was 59 1/2.</p>