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Level 1
posted Apr 2, 2020 11:11:42 PM

IRA contribution amount to put in 2019 Form 8606

I made my traditional IRA contribution of both 2018 ($5,500) and 2019($6,000) in 2019. Can I claim that I made $11,000 contribution when I file 2019 tax? TurboTax keeps telling me that I made excessive contribution and need to withdraw some.

 

Thanks for your help.

0 2 444
1 Best answer
Level 15
Apr 3, 2020 4:41:46 AM

You can only claim the $6,000 traditional IRA contribution made for 2019 on your 2019 tax return.   The  $5,500 traditional IRA contribution made for 2018 was reportable on your 2018 tax return.  If you did not include the $5,500 contribution on your 2018 tax return you must amend your 2018 tax return.

2 Replies
Level 15
Apr 3, 2020 4:41:46 AM

You can only claim the $6,000 traditional IRA contribution made for 2019 on your 2019 tax return.   The  $5,500 traditional IRA contribution made for 2018 was reportable on your 2018 tax return.  If you did not include the $5,500 contribution on your 2018 tax return you must amend your 2018 tax return.

Level 1
Apr 3, 2020 3:46:26 PM

Thanks a lot! It's very helpful.