Solved
I deposited funds into my IRA after I filed my 2015 returns, but before the cut off. How do I know if it's worth amending my 2015 return?
No text available
If you contributed to a Traditional IRA for 2016 and it was not reported on your 2016 tax return, you must amend to report it. Either it would be a deductible contribution that reduces your tax liability and you would be due a refund, or it would be a non-deductible contribution that requires an *8606 form to be filed as part of the tax return to report the non-deductible basis in the IRA. Either way required an amended return.
* An 8606 can be filed by itself without amending if you choose not to deduct (or cannot deduct because of AGI limits).
2016 8606 form: https://www.irs.gov/pub/irs-pdf/f8606.pdf
Instructions: https://www.irs.gov/pub/irs-pdf/i8606.pdf
https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed
https://ttlc.intuit.com/replies/3288565
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
