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rk2633
New Member

When filing, i put no for any roth ira. I just decided at last minute to start one, do i have to do an amended return for this, even though its going to be a Roth?

 
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DanaB
Expert Alumni

When filing, i put no for any roth ira. I just decided at last minute to start one, do i have to do an amended return for this, even though its going to be a Roth?

No, you do not need to amend your return. As long as the Roth contribution is within the allowed limit.

For 2018, your total contributions to all of your traditional and Roth IRAs cannot be more than:

  • $5,500 ($6,500 if you’re age 50 or older), or
  • your taxable compensation for the year, if your compensation was less than this dollar limit.

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DanaB
Expert Alumni

When filing, i put no for any roth ira. I just decided at last minute to start one, do i have to do an amended return for this, even though its going to be a Roth?

No, you do not need to amend your return. As long as the Roth contribution is within the allowed limit.

For 2018, your total contributions to all of your traditional and Roth IRAs cannot be more than:

  • $5,500 ($6,500 if you’re age 50 or older), or
  • your taxable compensation for the year, if your compensation was less than this dollar limit.
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