turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

staladd
New Member

1. I realized I checked traditional IRA not ROTH IRA on last year's taxes. Do I need to file an amendment? 2. I just threw out my 2017 Turbo Tax CD. What do I do?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
dmertz
Level 15

1. I realized I checked traditional IRA not ROTH IRA on last year's taxes. Do I need to file an amendment? 2. I just threw out my 2017 Turbo Tax CD. What do I do?

Yes, you must amend your 2017 tax return if you reported that you made a traditional IRA contribution but you actually made a Roth IRA contribution.

If you don't still have TurboTax on your PC you can amend manually.  The amendment can be done entirely on Form 1040X if you received a deduction on 2017 Form 1040 line 32 or Form 1040A line 17 for the entire amount contribution that you reported, otherwise you'll also need to include a corrected Form 8606 to remove the nondeductible traditional IRA contribution reported there.  You'll also need to correct the traditional and Roth IRA basis information on the IRA Information Worksheet in 2018 TurboTax if you used the originally filed tax file to begin your 2018 tax return.  But it would be best to obtain 2017 TurboTax and do the amendment with that.

View solution in original post

1 Reply
dmertz
Level 15

1. I realized I checked traditional IRA not ROTH IRA on last year's taxes. Do I need to file an amendment? 2. I just threw out my 2017 Turbo Tax CD. What do I do?

Yes, you must amend your 2017 tax return if you reported that you made a traditional IRA contribution but you actually made a Roth IRA contribution.

If you don't still have TurboTax on your PC you can amend manually.  The amendment can be done entirely on Form 1040X if you received a deduction on 2017 Form 1040 line 32 or Form 1040A line 17 for the entire amount contribution that you reported, otherwise you'll also need to include a corrected Form 8606 to remove the nondeductible traditional IRA contribution reported there.  You'll also need to correct the traditional and Roth IRA basis information on the IRA Information Worksheet in 2018 TurboTax if you used the originally filed tax file to begin your 2018 tax return.  But it would be best to obtain 2017 TurboTax and do the amendment with that.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question