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Hi, Do i need to amend my 2019 tax return (already filled) if i want to contribute to backdoor roth ira for year 2019 before April 15th? Thanks in advance.

I recently found out about backdoor roth ira contribution. However, i already filed my taxes for year 2019 in February. do i need to amend my 2019 tax return if i perform backdoor roth conversion for year 2019 now? (i.e. funding non-deductible IRA then convert to roth) Thanks.

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Hi, Do i need to amend my 2019 tax return (already filled) if i want to contribute to backdoor roth ira for year 2019 before April 15th? Thanks in advance.

You cannot do a 2019 *conversion* now.  A 2019 conversion had to be completed before Dec. 31, 2019.  Any conversion in 2020, is  a 2020 conversion reported next year on 2020 tax.

 

You can still make a 2019 Traditional IRA *contribution* prior to July 15, 2020 added to an amended 2019 tax return  either as a deductible contribution or a non-deductible contribution.

 

The July 15 date is for contributions only, not conversions.

 

[Edited 03/24/20 to reflect IRS and state extended due dates]
**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.**

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Hi, Do i need to amend my 2019 tax return (already filled) if i want to contribute to backdoor roth ira for year 2019 before April 15th? Thanks in advance.

You cannot do a 2019 *conversion* now.  A 2019 conversion had to be completed before Dec. 31, 2019.  Any conversion in 2020, is  a 2020 conversion reported next year on 2020 tax.

 

You can still make a 2019 Traditional IRA *contribution* prior to July 15, 2020 added to an amended 2019 tax return  either as a deductible contribution or a non-deductible contribution.

 

The July 15 date is for contributions only, not conversions.

 

[Edited 03/24/20 to reflect IRS and state extended due dates]
**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.**
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