Is this a traditional IRA contribution or a Roth IRA contribution?
All traditional IRA contributions must be reported on the tax return for the year for which the contribution was designated.
A Roth IRA contribution is only required to be reported if it is an excess contribution since an excess contribution is subject to penalty. If the Roth IRA contribution qualifies you for a Retirement Savings Contributions Credit, it will be beneficial to report it and must then be reported on the tax return for the year for which the contribution was designated.
The year for which a traditional or Roth IRA contribution is designated is indicated by the year of the Form 5498 that shows the contribution. Form 5498 is prepared by the IRA custodian and sent to you and to the IRS.
