AnnetteB6
Expert Alumni

Retirement tax questions

Roth IRA contributions are not generally reported as part of your tax return, so filing an amended return to report a contribution would not be necessary because it would not change your return.    

 

However, you must be sure that you are eligible to make the Roth IRA contribution.  There is both a contribution limit based on your age (up to $7500 for over 50 for 2023), and an income limit to be aware of in order to determine whether you can contribute.

 

The best practice is to enter the expected contribution into TurboTax as part of your return so that the program can apply the limits and let you know whether you are eligible to make the contribution.  If you did not do this when you were working on your original return, you could do this through creating an amended return and then not filing the amended return.  You may even qualify for a Saver's Credit based on the contribution, which would be a reason to file the amended return.

 

If you prefer to try to apply the limits yourself, take a look at the following information from the IRS and the TurboTax help article:

 

Amount of Roth IRA Contributions That You Can Make For 2023

 

Where do I enter my traditional or Roth IRA contributions?

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