`
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Returning Member

late filing

if i paid what I thought i owed in April, but need to call my financial advisor tomorrow about a Roth contributions, is is better to wait and file a day late or file tonight and do an amendment?

1 Best answer

Accepted Solutions
Highlighted
Level 2
Intuit Approved!

late filing

A contribution to a ROTH IRA will have no impact on your tax obligation.  So if you want to e-file, you'd better do it immediately (it is 10.30pm here in California).  Now if you meant a contribution to a Traditional IRA, that would be different.  Actually, no it wouldn't, sorry.  Because you couldn't possibly deposit the contribution by midnight 10/15/2019.  My suggestion is to e-file immediately.  Then amend if there is something that could change your obligation.  But I don't think there is unless you've got NOL being carried forward from a prior year.

View solution in original post

4 Replies
Highlighted
Level 2
Intuit Approved!

late filing

A contribution to a ROTH IRA will have no impact on your tax obligation.  So if you want to e-file, you'd better do it immediately (it is 10.30pm here in California).  Now if you meant a contribution to a Traditional IRA, that would be different.  Actually, no it wouldn't, sorry.  Because you couldn't possibly deposit the contribution by midnight 10/15/2019.  My suggestion is to e-file immediately.  Then amend if there is something that could change your obligation.  But I don't think there is unless you've got NOL being carried forward from a prior year.

View solution in original post

Highlighted
Returning Member

late filing

thank you, i just filed,  i will call my financial advisor and make adjustments, my mom passed away in 2016, things got complicated but its filed now and I can always make the correction.   I think we did not contribute to a roth due to the financial restriction, but for the life of me I could not find out that info on my financial site, i called them in April now wondering if it got done. So now I will just have to fix the ROTH or IRA thing, but someone else said that should not affect my refund.  Thanks so much for responding

Highlighted
New Member

late filing

I ended up submitting my taxes after 12.00.  I am not getting a refund nor am I paying in.  Will I be penalized?

Highlighted
Expert Alumni

late filing

Only if you owe taxes.  If you do not owe tax, you will not be penalized.   @22summertime16

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