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April 18, 2022
Question

2020 filed Roth contribution but form 5498 is for 2021

  • April 18, 2022
  • 1 reply
  • 0 views

I made a $600 Roth contribution last March 2021 for the tax year 2021 which is reflected in my form 5498. I was checking my 2020 tax forms when I realized I incorrectly filed the $660 for the tax year 2020.

I am not contributing this year (2021), do I need to correct it?

 

    1 reply

    April 18, 2022

    A Roth contribution is not tax deductible. There is no need to amend your 2020 tax return.

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