@Lloyd2 wrote:
@NCperson I was able to amend my already filed 2021 return to remove the contribution. Thank you for your kind and gentle response, much appreciated.
To be clear:
If you told turbotax (and filed your return) promising to make a deductible or non-deductible contribution to a traditional IRA, or a deductible contribution to an HSA, for the 2021 tax year, and you missed the April 18, 2022 deadline, then you do need to file an amended tax return to remove the contribution and pay any extra tax you may owe.
If you missed the deadline to contribute to a Roth IRA, this does not change your tax and does not require an amended tax return. However, Turbotax's internal record keeping of your contributions will be wrong, which could affect the tax calculation if you withdraw money from your Roth IRA before age 59-1/2. You should always be keeping your own accurate records of Roth IRA contributions.
No matter what kind of account it was, the contribution now counts as a 2022 contribution, and you may need to take steps to make sure you don't exceed the 2022 contribution limits (such as, you may need to adjust or reschedule any automatic contributions you are making to an IRA or HSA). Or, you can remove the contribution within 60 days as a "mistaken contribution."
