Roth IRA contributions after filing for the year

[golomb-andrew]

I have already filed my taxes for the year but am now considering contributing to my Roth IRA.  Will I have to refile anything? What is required?

[MargaretL · Accepted solution]

No, you won't have to necessarily amend and refile your tax return... but you may want to amend to check if you qualify for a retirement saving contribution credit, which may or may not impact your refund. Roth IRA contributions do not reduce you taxable income but may qualify you for the retirement savings contribution credit. So, when you do contribute, just start amendment, enter your contributions and visit the credit (steps below) to see if your refund is impacted... if it is, amend and mail your amended return. If not, there is no need to do anything.

1. Federal Taxes
2. Deductions & Credits
3. Retirement and Investments, select Retirement Savings Contributions Credits

And - if you enter the contribution into TurboTax, the program will help you keep track of your basis to the Roth IRA.