IRA contribution for 2018

Forum|Forum|7 years ago
June 2, 2019
4 replies
4 views

Due to some problem on the financial institution website, IRA contribution for year 2018 did not make it to my IRA account. Since I have already filed tax which has been accepted by federal and state government. What options do I have now?

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macuser_22

Alumni - Champ

Traditional IRA or Roth contribution?

**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.**

Anonymous

was a deposit made just that it was after 4/15 or was it never made?

macuser_22

Alumni - Champ

If Traditional IRA contribution and you already reported it, then you must amend to remove it and pay any tax difference if you had deducted it or file a new 8606 if it was a non-deductible contribution to remove it.

If a Roth contribution, then unless it qualified you for the Savers Credit (8880 form), nothing about a Roth contribution is reported on a tax return so nothing need to be done.

**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.**

rameshsahAuthor

Level 2

It was traditional IRA. Deposit was never made to IRA account. I followed up with financial institution that is when I found the root cause of the problem.