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April 14, 2022
Question

Turbotax is telling me to include Roth IRA contributions made between 1/1/2022 and 4/22/2022 on my 2021 return. Why is this?

  • April 14, 2022
  • 1 reply
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1 reply

hbl3973
Employee
April 14, 2022

tek40,

 

This is because IRA contributions made during that period can be back-applied to the 2021 tax year.  They don't have to but if you hadn't reached your contribution limit for 2021, this option is useful.  For lots of information on this and other IRA stuff, see IRS publications 590a and 590b downloadable from 

 

https://www.irs.gov/publications/p590a

 

and

 

https://www.irs.gov/publications/p590b