Do i have to report my Roth IRA created in 03/30/2021 on my 2020 tax return? Looks like my MAGI is 271,000
02769
2 Replies
SusanY1
Expert Alumni
May 17, 2021 10:08:19 PM
If your MAGI is 271,000, it is too high for a Roth IRA contribution. However, simply creating an account does not require any reporting on your tax return.
aceisastud
Level 1
May 17, 2021 10:33:30 PM
So if I don't use my contribution this year for 2020 return, will I just use it next year on my 2021 return?
I don't anticipate having a MAGI as high this year when I do 2021 return next year.