Question

Amend filing status to fix Roth IRA excess contribution

Forum|Forum|3 years ago
April 17, 2023
1 reply
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My wife and I opened our ROTH IRA and made the full $6K contribution (each) for 2021. We also got married that same year but filed our taxes as Married filing separately.

Fast forward to filing for 2022, I made the same mistake and filed MFS again not realizing that all of our contributions would be considered excess contributions and subject to the 6% penalty.

My question is, would amending our return and changing it to MFJ relieve us of the 6% penalty that we owe?

Not A Product Question

D

DanaB27

Yes, amending your return and changing your filing status might result that you don't have an excess Roth IRA contribution. Please see Amount of Roth IRA Contributions That You Can Make for 2022 for details.

Please see What happens if I made an excess Roth IRA contribution and How do I amend my federal tax return for this year? for additional information.

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