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New Member
posted Mar 19, 2020 4:04:55 PM

Contributing to my IRA after I've filed my taxes

I filed my taxes last month and now would like to be able to max out my IRA contributions. If I put it on in a ROTH, I'm guessing I wouldn't need to amend my tax return? But I would have to amend my return if they go into the traditional IRA?

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1 Replies
Expert Alumni
Mar 19, 2020 4:27:08 PM

Yes, you are correct. If you want to contribute to a Traditional IRA before April 15, 2020, you would have to amend your 2019 tax return to deduct the IRA contribution.

 

However, you should check if your contributions are limited by your MAGI.

 

For Roth IRA contributions see: https://www.irs.gov/retirement-plans/amount-of-roth-ira-contributions-that-you-can-make-for-2019

 

For Traditional IRA contributions if you are covered by a retirement plan at work, see: https://www.irs.gov/retirement-plans/2019-ira-deduction-limits-effect-of-modified-agi-on-deduction-if-you-are-covered-by-a-retirement-plan-at-work

 

If you are not covered at work see: https://www.irs.gov/retirement-plans/2019-ira-deduction-limits-effect-of-modified-agi-on-deduction-if-you-are-not-covered-by-a-retirement-plan-at-work