Re: I f I open an IRA with 2890 to be added to 2019 return would that effect my return if 2890 is...

I f I open an IRA with 2890 to be added to 2019 return would that effect my return if 2890 is all I made after taxes in 2019?

posted

If your income is $2,890 and you contribute the same amount to a Traditional IRA, there would no change to your tax as you would have no taxable income and no tax due.

You would be better off contributing to a Roth IRA.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I forgot to add dependent to my tax return for this year. In which would be the 5th child. Should I amend my tax return? Or would it not make a difference to do so?

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

I f I open an IRA with 2890 to be added to 2019 return would that effect my return if 2890 is all I made after taxes in 2019?

I f I open an IRA with 2890 to be added to 2019 return would that effect my return if 2890 is all I made after taxes in 2019?

Get more help

Do you have a TurboTax Online account?

I f I open an IRA with 2890 to be added to 2019 return would that effect my return if 2890 is all I made after taxes in 2019?

Do you have an Intuit account?

I f I open an IRA with 2890 to be added to 2019 return would that effect my return if 2890 is all I made after taxes in 2019?

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert