I finished my tax report for 2018 already. Can I still contribute to my IRA 2018? What do I need to do if I can?

[CherylW · Accepted solution]

Yes, you can contribute, till April 15, 2019.

If you do contribute (by going to a bank or broker), go to this section to enter it to reduce your taxes owed:

1.  Click Federal on the left-hand side menu.

2.  Click Deductions & Credits across the top.

3.  Scroll down to Retirement and Investments and click Show more.

4.  Click Start or Revisit by Traditional and Roth IRA Contributions.

[xxs118]

Thanks! In my case, I will contribute to my Traditional IRA and then backdoor to my ROTH IRA. Given that, do I need to amend my tax report to IRS?

[macuser_22]

If it is a 2018 contribution prior to April 15, 2019, then yes, you must amend 2018 to report is either as a deductible contribution on the 1040 form or a non-deductible contribution on line 1, 3 & 14 on a 8606 form attached to an amended return.

A 2019 contribution will be reported next year on your 2019 tax return.