I contributed $5500 to my 2016 Roth IRA in February of 2017 after I had filed my taxes for 2016. Do I need to claim any roth contributions on my return this year?

itk36378 · ‎June 5, 2019

MinhT · ‎June 5, 2019

Roth-IRA contributions are not tax deductible. You do not report this contribution on your 2017 tax return.

However, you may be eligible for a saver's credit in 2016 if your 2016 Adjusted Gross Income (AGI) is below a certain amount given in this IRS table:

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-save...

If you are eligible, you'll need to amend your 2016 tax return to claim this credit.

To amend your 2016 return, please click on the following link for instructions:

https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty16/

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View solution in original post

MinhT · ‎June 5, 2019

Roth-IRA contributions are not tax deductible. You do not report this contribution on your 2017 tax return.

However, you may be eligible for a saver's credit in 2016 if your 2016 Adjusted Gross Income (AGI) is below a certain amount given in this IRS table:

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-save...

If you are eligible, you'll need to amend your 2016 tax return to claim this credit.

To amend your 2016 return, please click on the following link for instructions:

https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty16/

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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I contributed $5500 to my 2016 Roth IRA in February of 2017 after I had filed my taxes for 2016. Do I need to claim any roth contributions on my return this year?