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Roth IRA option was not available so I just selected IRA. Would I need to amend my return since I put money into the Roth IRA and not a traditional IRA?

 
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PaulaM
Expert Alumni

Roth IRA option was not available so I just selected IRA. Would I need to amend my return since I put money into the Roth IRA and not a traditional IRA?

Maybe.

You may be able to re-characterize your Roth contribution to a Traditional IRA contribution if eligible. Otherwise, you would need to amend if you want to keep the Roth, but claimed a traditional IRA deduction.

IRA Recharacterization FAQ's

https://www.irs.gov/retirement-plans/ira-faqs-recharacterization-of-ira-contributions

Amend instructions.

https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed?...

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1 Reply
PaulaM
Expert Alumni

Roth IRA option was not available so I just selected IRA. Would I need to amend my return since I put money into the Roth IRA and not a traditional IRA?

Maybe.

You may be able to re-characterize your Roth contribution to a Traditional IRA contribution if eligible. Otherwise, you would need to amend if you want to keep the Roth, but claimed a traditional IRA deduction.

IRA Recharacterization FAQ's

https://www.irs.gov/retirement-plans/ira-faqs-recharacterization-of-ira-contributions

Amend instructions.

https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed?...

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