Am I paying taxes twice on Roth IRA?

[Matthew Hintzke]

Years ago when I was a bit more naive in my financial knowledge I opened up a Roth IRA Investement account with Schwab. Over a years I have added little bits of money here and there mostly to play around with the market and get my feet wet. I have been funding this Roth IRA via a manual transfer from my Checking account which is all money that was already taxed. I was thinking about it, and I didn't realize this entire time that I might have been getting taxed twice on this money since a Roth IRA taxes you "on the way in" right?

However, I looked at my statements and account and couldn't find anything that talked about the amount I was taxed, nor did I ever notice a deposit getting taxed ($1000 deposit went into the account as $1000). So does Schwab just assume this money is already taxed since its not coming directly from payroll? If I had a Traditional IRA whould this work any differently since you aren't supposed to get taxed until "the way out"?

I guess I am just trying to understand these 2 types of accounts a little more. Thanks for any insight!