SusanY1
Expert Alumni

Retirement tax questions

Yes, since he contributed in 2020, he can reallocate the contribution so that $3,300 is for 2019, and $2,700 is for 2020.  

 

If he earns more than $2,700 in 2020, then he can, of course, contribute more to the Roth for the 2020 tax year.  

 

To reallocate the contribution, he should contact the financial institution that manages his account before April 15, 2020. 

 

In TurboTax, he should indicate that he made a Roth contribution of $3,300 for 2019.

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