Retirement tax questions

A Roth 1099-R or a Roth IRA contribution?

 

If a 1099-R and it does not affect the tax the  I would not bother with an amended return.  The IRS might detect it when they match in about a year of so and send a letter.  A simple explanation in response to the letter should be sufficient - they rarely send letters for no tax change errors.

 

 

  Roth contributions do not go on a tax return.


A Roth IRA contribution does not actually go on a tax return, but you can enter it anyway to:

1) Tell you if your income qualifies you for a contribution and warn you if it does not.
2) Check if your income exceeds the limit to contribute to a Roth.
3) Track your contribution year-to-year if you use TurboTax every year.
4) Add the Retirement Savers Credit if you qualify.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**