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ngocphamtax
Level 3

I filed my tax 2021 where I should contribute some money into Roth IRA but I missed the contribution deadline. What should I do next ? Do I need to file an amendment ?

 
2 Replies
Opus 17
Level 15

I filed my tax 2021 where I should contribute some money into Roth IRA but I missed the contribution deadline. What should I do next ? Do I need to file an amendment ?

Roth IRA contributions are not reported on your tax return unless you make an "excess" contribution and pay a penalty.  And I don't think you were planning to make a contribution if it would have been considered an excess.  So, failing to make a contribution before 4/18/22 doesn't change your tax owed and there is nothing to amend.

 

Turbotax does keep track of your Roth IRA contributions, which information can be used to determine when withdrawals might be taxable, and you can correct this next year when you file.  Also, you should be keeping your own accurate records of your contributions, because you will need that information if you make any withdrawals before age 59-1/2. 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
SweetieJean
Level 15

I filed my tax 2021 where I should contribute some money into Roth IRA but I missed the contribution deadline. What should I do next ? Do I need to file an amendment ?

Did you receive a Retirement Savings Credit and/or some similar State tax benefit?

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