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donfister
New Member

Our 2017 traditional IRA contributions were recorded by vanguard as 2018, we claimed them in 2017 taxes. How can we correct this error?

 
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7 Replies
DanaB
Expert Alumni

Our 2017 traditional IRA contributions were recorded by vanguard as 2018, we claimed them in 2017 taxes. How can we correct this error?

You will have to amend your 2017 tax return to make the correction with your traditional IRA contribution:

https://ttlc.intuit.com/replies/6603004

DanaB
Expert Alumni

Our 2017 traditional IRA contributions were recorded by vanguard as 2018, we claimed them in 2017 taxes. How can we correct this error?

You did not find this helpful, can I clarify anything?
donfister
New Member

Our 2017 traditional IRA contributions were recorded by vanguard as 2018, we claimed them in 2017 taxes. How can we correct this error?

I certainly agree with your assessment,  however I was looking for an alternative path to correct the IRA contribution so that I could keep it in the year intended.   
DanaB
Expert Alumni

Our 2017 traditional IRA contributions were recorded by vanguard as 2018, we claimed them in 2017 taxes. How can we correct this error?

Did you contact the vanguard about this?
donfister
New Member

Our 2017 traditional IRA contributions were recorded by vanguard as 2018, we claimed them in 2017 taxes. How can we correct this error?

Yes,  they said that the mistake was ours and they could not correct it on their end after they had filed their documentation to the Fed.  Since this was a mistake and we actually contributed to the IRA in March, but we failed to indicate 2017 as the designated year on the checks.  I thought there should be a straight forward process to correct this fault.
DanaB
Expert Alumni

Our 2017 traditional IRA contributions were recorded by vanguard as 2018, we claimed them in 2017 taxes. How can we correct this error?

Unfortunately, since the IRS has this as records you cannot do anything else besides amending the 2017 return and include the deduction on your 2018 return. If you had any other contributions in 2018 you might want to verify that you didn't contribute more than the limit $5,500 ($6,500 if you’re age 50 or older) for 2018.
dmertz
Level 15

Our 2017 traditional IRA contributions were recorded by vanguard as 2018, we claimed them in 2017 taxes. How can we correct this error?

There is no correction that will permit you to treat this as a 2017 contribution.  You must amend your 2017 tax return to remove the previously reported 2017 contribution and report the contribution on your 2018 tax return.
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