I forgot to contribute my IRA funds, but have already filed and paid.

I did my taxes assuming that we would be contributing money back into our IRA. I said we would be contributing $7,000 each ($14,000 total) into our IRA prior to April 17th. I filed the taxes at the end of March, but didn't pay our taxes due until the middle of April. The tax check has cleared the bank last week. I just realized (April 23) that I forgot to move the money into our IRA accounts. I know if I do it now, it will only count again our 2022 year and can not be applied to our 2021 contributions.

I know this will result in owing more taxes, so how and when do I amend my 2021 taxes?

152

Level 15

Apr 23, 2022 8:04:12 AM

You can amend the 2021 tax return now to remove the IRA contribution since the taxes owed have been paid and processed by the IRS.

See this TurboTax support FAQ for amending a 2021 return - https://ttlc.intuit.com/community/tax-return/help/how-do-i-amend-my-2021-return/00/2544441

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I forgot to contribute my IRA funds, but have already filed and paid.