In 2022, I misinterpreted the Roth IRA Contributions for Roth 401k and put a # down (within limit). For 2023, I left it empty. Do I need to fix my taxes from 2022?

I put the number from 2022 down in the "Deductions & Credits" section for Federal.

Now when filling out 2023, it shows the historical 2022 number (which should have been zero).

Will this impact my taxes for 2023? Can I go ahead and file or do I need to fix 2022 before I can file and how?

Thank you!

1310

Expert Alumni

Apr 8, 2024 6:50:25 AM

It won't affect your 2023 tax return. To confirm, do you have a Roth IRA? If yes and you selected that TurboTax should track your Roth IRA contributions then your tracked contribution will be wrong.

If you didn't receive a excess contribution warning then there is no need to amend your 2022 return (assuming your 401(k) Roth contribution was more than $2,000).

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In 2022, I misinterpreted the Roth IRA Contributions for Roth 401k and put a # down (within limit). For 2023, I left it empty. Do I need to fix my taxes from 2022?