turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I made a 2020 Roth contribution in 2021 after I filed my taxes for 2020. I received a 5498 in July. Do I need to amend my 2020 taxes to report this?

This was a brand new Roth IRA that I opened in May 2021.
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I made a 2020 Roth contribution in 2021 after I filed my taxes for 2020. I received a 5498 in July. Do I need to amend my 2020 taxes to report this?

No.   The 5498 is information only and does  not go on a tax return.    Roth contributions are not reportable on a tax return.

 

 

**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.**

I made a 2020 Roth contribution in 2021 after I filed my taxes for 2020. I received a 5498 in July. Do I need to amend my 2020 taxes to report this?

As long as you opened the account by 5/17 then there is nothing you need to do  UNLESS the contribution makes you eligible for the "Saver's Credit" form 8880.    https://www.irs.gov/pub/irs-pdf/f8880.pdf

 

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies