I e-filed my 2017 return through Turbotax and the IRS accepted it. I forgot that I planned to make a 2017 contribution to my Roth IRA. The contribution will be for the maximum amount allowed and will be made from 2017 earned income. The contribution will not affect any of the calculations on my tax return, as I will not receive any deduction or credit for the contribution. I cannot see why I would need to amend the return if nothing changes. Can you help?
Thank you.
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Contributions to a Roth IRA aren't deductible (and you don't report the contributionson your tax return), but qualified distributions or distributions that are a return ofcontributions aren't subject to tax. In addition, you don't have to be under age 70½ to contribute to a Roth IRA. https://www.irs.gov/taxtopics/tc451
so therefore no you do not need to amend.
TT holds this information history for you though so you can track your basis in the IRA.
I hope this was helpful?
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