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litlbit59
New Member

Took roth tax credit but deposit will be made with return is this ok will my return be rejected?

 
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AlanT
Expert Alumni

Took roth tax credit but deposit will be made with return is this ok will my return be rejected?

Yes, this is OK as long as you make the contribution by the April 15, 2019 deadline.  Your return will not be rejected.  

If you do not make the contribution, you will have to file an amended income tax return to remove the contribution.

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5 Replies
AlanT
Expert Alumni

Took roth tax credit but deposit will be made with return is this ok will my return be rejected?

Yes, this is OK as long as you make the contribution by the April 15, 2019 deadline.  Your return will not be rejected.  

If you do not make the contribution, you will have to file an amended income tax return to remove the contribution.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
litlbit59
New Member

Took roth tax credit but deposit will be made with return is this ok will my return be rejected?

I sure appreciate your quick response, now I'll go enjoy the day. Thank you, Karen
AlanT
Expert Alumni

Took roth tax credit but deposit will be made with return is this ok will my return be rejected?

Hope the weather is great where you are.  
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litlbit59
New Member

Took roth tax credit but deposit will be made with return is this ok will my return be rejected?

Truth be told, it's 10.2 degrees F and I spent the day painting my mom's bedroom.

Took roth tax credit but deposit will be made with return is this ok will my return be rejected?

What do you mean a "Roth tax credit"?

Roth contributions are not tax deductible and do not need to be reported at all.  
Do you mean the "savers credit "?

A Roth IRA contribution does not actually go on a tax return, but you should enter it anyway to:

   1) Tell you if your income qualifies you for a contribution and warn you if it does not.
   2) Check if your income exceeds the limit to contribute to a Roth.
   3) Track your contribution year-to-year if you use TurboTax every year.
   4) Add the Retirement Savers Credit if you qualify.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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