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Level 2

Roth IRA

I decided to contribute to a Roth IRA after filing my return. If I take the standard deduction and didn't file a schedule A for itemized deductions, do I still need to file an amended return to report the Roth contribution? I don't see any forms on the amended return that would go to the IRS stating the Roth contribution

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Level 12

Roth IRA

You wouldn't get a deduction for the ROTH contribution, but it's possible you could use the ROTH contribution as a basis for a Retirement Savings Contribution Credit.  You can review the information below to see if that applies to you, and, if it does not apply to you, as long as you are eligible to contribute to a ROTH (under the income limits), then there is no reason to amend to report anything.


The Retirement Savings Contribution Credit is a credit for making eligible contributions to your IRA or employer-sponsored retirement plan (i.e 401k).  It is designed to encourage those with adjust gross income levels below a certain amount to save for retirement.  You can find more information about these levels at the link below.  
The basic eligibility requirements are that you must be -
  1. Age 18 or older;
  2. Not a full-time student; and
  3. Not claimed as a dependent on another person’s return
The amount of the credit is based on filing status and your adjusted gross income.  You can find more information about the specific levels at this link.  See Retirement Savings Contribution Credit (Saver’s Credit)