On <a rel="nofollow" target="_blank" href="
https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-IRS-Form-5498-/INF14779.html">https...> it says that you can increase your deduction.. so how do you do that if you don't file an amendment?
Plan custodians must distribute 5498s to participants and the IRS no later than May 31 of each calendar year -- a full six weeks after the income tax filing deadline of April 15. This allows you to continue making contributions to your IRA up until April 15 and have them apply to the previous tax year. In some cases, this extra time can help increase your tax deduction.
